Apple Inc. (NASDAQ:AAPL) is being urged to consider the development of a smart ring.
Bloomberg’s Mark Gurman, in his latest weekly “Power On" reported that the wearables and smartwatch segment of the tech behemoth has been witnessing a slowdown, with a revenue drop of 7% in the last fiscal year.
The Apple Watch alone experienced a decline of over 14% in fiscal 2024. The company’s foray into a new wearables category, such as smart rings, could potentially reverse this downward trend.
While Apple is already developing smart glasses, a competitor to products from Meta Platforms Inc., the introduction of a smart ring could further diversify its product portfolio.
Companies like Oura Health Oy, Samsung Electronics Co., Ultrahuman, and RingConn have already tapped into the consumer interest in fitness rings.
Despite the absence of a display and phone-like features, smart rings offer several benefits. They are more comfortable to wear, especially during sleep or workouts, and can last several days on a single charge.
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Moreover, they can easily blend into any wardrobe and offer the same fitness and health tracking benefits as an Apple Watch.
Apple’s hint at a tethered Vision Pro and the release of new beta versions of iOS 26 and other operating systems indicate the company’s intent to expand its wearables portfolio.
The company’s potential move into rings and glasses could pose a significant challenge to current market players like Oura and Meta.
If successful, this could potentially revitalize Apple’s wearables division and reverse the recent decline in revenue.
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