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Broccoli City Co-Founder Marcus Allen joined me on the latest episode of Michelai Money Talks, where he told me he’s past the point of spending more than $200 on some sneakers, but $1,000 for a pair of loafers? He’s down.
A peek into today’s edition:
A quick Google Search will show you that there are a few dozen smart ring developers out there, but when I think about the industry leader, only one company comes to mind: Oura.
The Finnish health tech company was founded in 2013, and two years later, it released the first generation of its smart ring. The device was built to track sleep and physical activity through a subtle wearable. Oura released the second generation of its flagship product in 2018, followed by the Oura Ring 3 in 2021. The company’s latest device has a size-specific charger and 15 sensors tracking blood oxygen, heart rate, and other notable biosignals. Oura holds five smart ring-related patents, and while the company has staked its claim as the authority across the smart ring industry, that could change very soon.
This week, Samsung unveiled the Galaxy Ring at its most recent Galaxy Unpacked event, entering a new product category for the first time in ages. Samsung teased its wellness wearable in January via a short video with no further details. The smart ring’s unveiling comes after the electronics leader filed a lawsuit against Oura last month to seek declaratory judgment that says the Galaxy Ring doesn’t infringe on any of Oura’s intellectual property. I took this as Samsung gearing up for battle to become a top smart ring contender.
The Galaxy Ring comes in Titanium Black, Titanium Silver, and Titanium Gold, with up to nine size options. The wearable tracks various health metrics, including sleep, heart and respiratory rate, energy levels, skin temperature, physical activity, and more. It can last up to seven days on a single charge, and the device harnesses Galaxy AI to provide daily health reports.
I got up close with the new device at Samsung’s media dinner earlier this week, where I used the ring sizing kit to identify my perfect fit. The company had one ring active in the room, which just so happened to be my size. I tried it on and can attest to the lightweightness of the device. It had a nice clean look and was a comfortable fit, though I didn’t get to test the tech. I’m hoping that opportunity will come soon.
Let’s take a look at some of the differentiating factors across the popular smart ring brands.
I think marketing and brand awareness will win the race here. Oura has already become a staple across the market, plus it has notable brand ambassadors, including NBA legend Chris Paul and three-time Olympic medalist and famous alpine ski racer Lindsey Vonn, repping its brand.
It’ll be interesting to see who Samsung rallies to market the Galaxy Ring, if anyone. Samsung works with a group of celebs and content creators it dubs Team Galaxy to market its products, which includes notables like Jaden Smith, Euphoria’s Javon Walton, Demi Bagby, and more.
One thing Samsung doesn’t have to do with its marketing plan is start from scratch, like Oura had to do. The world is already familiar with the electronic maker’s brand and products, and early presales of the Galaxy Ring, which are nearly sold out, already show the device is in high demand. One thing Samsung is marketing the Galaxy Ring alongside its smartwatches and smartphones, meaning you need to be team Samsung to tap into the smart ring’s potential. This is Samsung’s biggest downside, since the Oura Ring is compatible with any smartphone device. Still, Samsung hopes the Galaxy Ring will drive sales for its other products since they all operate best together.
While the Oura Ring requires a subscription, the Galaxy Ring won’t require one. That’s a huge differentiating factor, especially regarding how much money you actually spend on wearables when monthly subscriptions come into play.
With its launch into the smart ring industry, Samsung is taking a page out of Apple’s book. Much like the Apple Vision Pro entering the mixed-reality headset arena, the Galaxy Ring will be the most expensive smart ring on the market, priced at $399. The Oura Ring 3 costs $299, with similar products netting between $250 to $350.
Samsung’s biggest competitor could release the fourth generation of its smart ring sometime this year, based on the company’s history of releasing new iterations every three years. The electronics company might also have some competition from Fitbit, which was also granted a smart ring-related patent last month, nearly five years after applying for one.
I plan on trying the Oura Ring 3 and Samsung Galaxy Ring simultaneously to share a raw review of the devices. TBD on how that goes.
While new social network noplace — which briefly hit No. 1 on Apple’s App Store — is targeting younger generations in its initial launch, I’m going to bet that there will be an influx of Millennial users on the app soon since it’s billed as “Myspace for Gen Z.” I’ve been itching to get back in my coding bag and design an online profile from scratch. Stay tuned.
