Currently, smartrings have average prices in the range of 300 dollars, around 277 euros. Below what is the average price of a smartwatch and, mainly, of more expensive models in options from Samsung, Apple and Garmin, notes Francisco Jerónimo, from IDC. And this can make rings more interesting for “those who don’t want to spend so much money”. And, he believes, having “a series of brands entering this segment will naturally cause prices to fall”. Samsung's Galaxy Ring should cost around “250/300 euros”, in this analyst's view — so far, the company has not specified prices. Details about Samsung's ring are scarce – at the end of the launch of the Galaxy S24 smartphone the company only showed a glimpse of the ring and exhibited the product at the Mobile World Congress in Barcelona.
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For now, it is known that Honor is also working on a smart ring, according to an interview with CEO, George Zhao. “Internally, we have this type of solution, we are working so that in the future they can have an Honor ring”, he told CNBC. Technology market analysts recognize that, in general, there could be “some overlap of features” between watches and smart rings, suggests Avi Greengart of Techsponential. Although Oura only sells rings, many of the other brands interested in this trend have smartwatches in their portfolio. Could the rings steal some of the sales? Analyst Kane McKenna, from CSS Insight, believes so, but that companies like Samsung or Apple “are aware of the threat of cannibalization” in the watch segment. “The next one to two years will be interesting because we will enter a period in which, for the first time, companies will sell both watches and smart rings”, he continues. There will have to be “attention” in relation to the target audience and also “in the way they will position the two products [no mercado] to limit the threat.”Francisco Jerónimo believes that there will continue to be a differentiation between the audiences for the two products. “Those who want a smartwatch want more advanced features”, whether notifications or sports, while those looking for a smartring may want a simpler gadget. “But there will also be users who will have both. The ring as the main source of collection for vital signs and the watch for everything else.” Which could be another opportunity for companies to “expand the number of devices per user”, he assures. The IDC analyst also mentions another business opportunity: the sale of subscriptions, taking precisely the example of Oura, which has a monthly subscription of 6 euros to guarantee access to record analysis. “It’s an opportunity to sell services and analyze the data collected”, he details. For now, anyone who buys a ring is not required to have a subscription, but this person admits that, in the future, this may be part of the companies' plans. “I believe Samsung will also offer a subscription with the ring.”The Finnish Oura, the best-known company in the segment of these gadgets, has been in the spotlight in this niche category since 2019. According to IDC data, it had in 2023 a market share of 80%far ahead of the 12% of Ultrahuman, responsible for Ring Air and the second best-selling brand in this segment.