On Wednesday, Samsung made its debut in the “smart ring” market with the release of the Galaxy Ring. The tech giant from South Korea wants to counter Apple’s entry into the health-tracking market by integrating its wearables and smartphones.
Heart rate and sleep patterns are only two of the health data that the Samsung Galaxy Ring can monitor.
According to Samsung, the Galaxy Ring will be offered in three colors and go on sale on July 24.
The tech giant from South Korea wants to counter Apple’s entry into the health-tracking market by integrating its wearables and smartphones.
At its Galaxy Unpacked event on Wednesday in Paris, Samsung revealed the details of the Galaxy Ring, a lightweight ring with sensors meant for round-the-clock health monitoring. The device has been teased by the firm for a few months.
Samsung is attempting to enter a new market at a time when sales of smartphones are marginally increasing but consumers are keeping their devices longer. Manufacturers of devices search for supplementary electrical products to market.
The Galaxy Ring gives Samsung a new product to offer in addition to its smartphones and wearables that can track health-related characteristics. Samsung has been attempting to promote its health applications, which are becoming more and more well-liked among consumers, as a major selling point for these kinds of devices over the last few years.
Additionally, Samsung is marketing the ring as a tool to be worn in conjunction with its smartwatches and smartphones that run artificial intelligence software to provide a complete picture of a person’s health. This strategy may increase sales of Samsung’s other goods.
Paolo Pescatore, the founder of PP Foresight, told CNBC, “This will be the star of the show with all eyes on this new device and category for Samsung.”
According to Pescatore, the ring is a “product that could help drive sales of smartphones and attract users to its platform.”
Key characteristics and cost of the Galaxy Ring
According to Samsung, the Galaxy Ring can keep an eye on the following:
- Sleep: The gadget can track a person’s heart rate, respiration rate, movement during sleep, and sleep latency in addition to providing a quality of sleep study.
- Menstrual cycle: Samsung claims to be able to track a person’s menstrual cycle using skin temperature.
- Heart rate: Users can receive alerts from the Galaxy Ring when their heart rate is abnormally high or low. Additionally, users can view a real-time heart rate monitor.
- Workout: The Galaxy Ring has the ability to identify the type of exercise or activity a user is engaged in.
It weights between 2.3 and 3 grams, depending on the size that you purchase, for the Galaxy Ring. The gadget is available in three hues.
The Galaxy Ring’s battery, according to Samsung, can last for up to seven days. Similar to wireless air buds, there is a portable charging case.
Starting on July 24, the Samsung Galaxy Ring will be obtainable for a price of $399.99.
Samsung ecosystem involvement
Samsung also unveiled the Galaxy Watch 7 and Galaxy Watch Ultra, its newest smartwatches, on Wednesday. The “Ultra” version of the company’s smartwatch, intended for athletes and those interested in outdoor pursuits like hiking and mountain climbing, is being launched for the first time.
The watches have upgraded sensors and functionalities for tracking sports.
On Wednesday, Samsung also unveiled the Galaxy Z Fold 6 and Z Flip 6, two of its newest foldable gadgets.
Samsung hopes to further bind customers to its product ecosystem by offering the ring.
For instance, users can capture pictures or answer calls by using their fingers to perform a “double pinch” motion while their smartwatch is linked to their phone.
According to Samsung, when a user pairs their phone, wristwatch, and Galaxy Ring, more data is collected by the devices, giving them a more complete picture of their health—especially while they’re sleeping. According to Samsung, wearing the ring with the wristwatch increases its battery life.
“In fact, the ring and watch contribute to growing the ecosystem, which will become more significant as AI technology is used to the data gathered from other devices. The efficacy of AI digital assistants is increased when a user has multiple devices from the same brand, according to Francisco Jeronimo, vice president of devices research for Europe, the Middle East, and Africa at IDC, who sent this information to CNBC via email.
“Users will choose devices from one brand over another due to this genuinely personalized experience.”
Similar to Apple, Samsung has been promoting the devices’ connectivity in recent years in an effort to keep users interested.
Ring is a ‘niche’ product
The Galaxy Ring demonstrates Samsung’s efforts to reach a wider audience, even though it is unlikely to be a big seller in terms of volume.
According to Wood, Samsung made an intriguing gamble with the Galaxy Ring. The product category is a “niche segment,” and 4 million rings are anticipated to be supplied by 2025. Considering the 250 million smartphones that are anticipated to be sold in 2019—a “rounding error”—this amount is small.
But it’s a category of devices that aligns nicely with consumers’ rising interest in tracking health indicators, and it complements Samsung’s present smartwatch sales, especially when it comes to sleep tracking.
Smart rings are far more comfortable to wear at night than smartwatches, which are bulky gadgets.
These gadgets are sold by companies other than Samsung. Over the past nine years, Oura, one of the industry pioneers, has sold 2.5 million pieces of its products, according to CCS Insight. Other players have shown interest in the market since Samsung announced the ring earlier this year. In February, CNBC revealed that Honor, a Chinese electronics company, was creating its own smart ring.
Wood predicted that Samsung will be able to outpace its rivals in the smart ring market.
Given its huge marketing budget and global reach, Samsung is expected to lead the market as it will bring attention to a new product category that the majority of consumers are unlikely to be familiar with, according to Wood.
For Samsung, the Galaxy Ring may lead to new software revenue sources. The Samsung Health app allows users to access their wearable data. In February, Hon Pak, Samsung’s head of the digital health team, revealed to CNBC that the company is “considering” offering a subscription service for the app.
According to Jeronimo of IDC, “Samsung may not see significant revenue growth from this category, but it does help grow the wearables portfolio and opens the door to new services in the future, should they decide to.”
