Apple developing “iRing” smart ring to challenge Oura Ring

Apple is reportedly prototyping a smart ring—dubbed “iRing”—that will directly compete with Oura’s Ring 5 and Samsung’s Galaxy Ring, according to a June 24 leak [1]. The move matters because Apple’s wearables revenue has slowed, and a sub‑$400 entry point could revive growth in its health‑device lineup.

Why Apple may finally enter the ring market

Apple’s hesitation stemmed from concerns that a finger‑tracker would cannibalize the Apple Watch, whose margins far exceed those of a $400 ring [1]. The company’s health division recently moved under Eddy Cue, a senior executive known for pushing bolder health bets, which may have shifted internal veto power [1]. With the wearables segment shrinking to $37 billion—its lowest level in four years—Apple now has a clear incentive to add a low‑cost, screenless device that can attract buyers who prefer a discreet health sensor over a wrist‑worn watch [1].

Competitive landscape and market opportunity

Oura’s Ring 5, launched in May 2026, retails at $399 and adds blood‑pressure trends, breathing analysis, and support for GLP‑1 weight‑loss medication tracking [1][2]. It also requires a $5.99‑per‑month subscription for full data access [2]. Samsung’s Galaxy Ring entered the market in 2024 at the same $399 price point but has seen soft sales and a delayed sequel to early 2027 [1]. The global smart‑ring market is projected to grow from roughly $519 million in 2026 to $3.77 billion by 2034, with Oura currently holding more than three‑quarters of sales [1]. A new Apple‑branded ring could tap the segment’s rapid growth while leveraging Apple’s ecosystem—Health app integration, iPhone pairing, and potential Vision Pro gesture support—to create a lock‑in advantage that rivals lack [1].

Potential impact on Apple’s ecosystem

If Apple bundles ring data into the Health app at no extra fee, it would undercut Oura’s subscription model and could shift health‑savvy consumers toward Apple’s broader services. The $400 price tag sits well below the $799 Apple Watch Ultra, targeting users who want health metrics without a screen. By expanding its health‑device portfolio, Apple gains a fresh growth lever for a product line that has seen limited expansion since the Watch’s debut.

What to watch

• Official announcement or launch timeline for the iRing (rumored for 2026‑2027).
• Apple’s next earnings report for any update on wearables revenue and the iRing’s contribution.
• Oura’s response, such as pricing adjustments or new features, to counter an Apple‑branded competitor.

Apple’s entry into the smart‑ring space could reshape the wearables market, turning a niche accessory into a mainstream health gateway and testing whether the Apple ecosystem can sustain multiple overlapping devices. The real question is whether the iRing will complement the Watch or become a new cornerstone of Apple’s health strategy.