It's been a few months since Samsung introduced its first smart ring, the Galaxy Ring, but if the latest rumors are correct, the Korean tech giant won't get any competition from its biggest rival anytime soon. Apple has reportedly canned its smart ring project.
Tales about Apple developing a smart ring have circulated for years, even decades, and possibly for longer than the Samsung stories that preceded the official launch of the Galaxy Ring.
Recently, rumors about Apple working on its first smart ring were beginning to heat up. However, now, the story has taken a totally different turn.
Bloomberg (via Apple Insider) says that Apple did a U-turn on its smart ring project and has no plans to release such a product.
Apple doesn't think smart rings would fit its current lineup
According to the report, Apple has shut down its smart ring project for somewhat pragmatic reasons. Namely, the tech giant believes that an Apple smart ring would negatively affect Apple Watch sales.
The Apple Watch is the most popular smartwatch in the world. Apple has a winner on its hands and doesn't want to mess it up. The company thinks releasing a smart ring could upset the balance it achieved in the wearable market.
More importantly, Apple believes there's still room for the Watch to gain even higher sales, so it sees no reason to try to replace it. “[Apple] has no reason to cannibalize a product that still has room to grow,” the report states.
We also want to point out that Apple's newly launched Vision Pro didn't do as well as the company was hoping, and perhaps Apple doesn't want to risk experimenting with another new product category unless it's a sure bet.
If the rumors are true, it sounds like Apple's decisions regarding the alleged cancelation of its smart ring have little or nothing to do with whatever Samsung is doing and the launch of the Galaxy Ring.
All in all, this might be good news for Samsung or bad news for Samsung fans, depending on how you look at it. Without any competition from Apple, Samsung and its Galaxy Ring could capture the smart ring market. Then again, without any serious competition, there's the risk that the Galaxy Ring will stagnate.
