LISBON — Apple will not introduce a smart ring, the CEO of health-tech firm Oura told CNBC, despite speculation the iPhone giant may be considering a move into this product category.
But Tom Hale, CEO of Oura — which has been developing smart rings since the company was established in 2013 — said he doesn’t think Apple will enter the space.
“I think they [Apple] are unconvinced about the value of having a ring and a watch together and they’re not interested in undercutting the Apple Watch as a business,” Hale told CNBC in an interview on Tuesday at the Web Summit in Lisbon, Portugal.
“I think they’re probably keeping a close eye on Samsung and a close eye on us, but it’s hard to do this product category right.”
Under CEO Tim Cook, Apple has put a large focus on health applications through the Apple Watch and related services.
A smart ring is a type of wearable device full of sensors that can give the wearer information about things like their health, activity and sleep. They are lightweight and have a long battery life which fans say make them ideal for wearing all day, including when sleeping, versus a smartwatch that may be less comfortable and so removed more often.
“Apple is very much a focused company. They’re like: ‘We’ve put our bet on the watch. We’re gonna make the watch our platform,'” Hale said.