Samsung finally showed off the Galaxy Ring wearable activity tracker at MWC 2024 last month. The company has only offered limited information about the device at this point in time, and said that it's going to be released later this year.
There's bound to be good demand for the product when it finally arrives, at least Samsung expects as much. The company is reportedly preparing nearly half a million units of the Galaxy Ring to be sold at launch.
Samsung is confident about high Galaxy Ring demand
A report out of South Korea claims that the Galaxy Ring will enter mass production in May 2024 with the device being unveiled alongside the new foldable phones in July this year. The Galaxy Ring is expected to go on sale in August 2024 with 400,000 units being available for sale at launch.
The report also adds that Samsung is well positioned to quickly ramp up production if demand further exceeds initial supply. The Ring's small form factor and the fact that all of the parts that go into it are readily available mean that Samsung can increase production without much difficulty.
This estimated figure goes to show that Samsung is quite confident that it will see high demand for the product when it goes on sale later this year. Oura, the current market leader in the smart ring space, sells a million or so units throughout an entire year, so Samsung clearly anticipates it would be able to meet half that, if not more.
Samsung does stand to benefit from its incredible brand value and the fact that there are hundreds of millions of Galaxy device owners across the globe who can benefit from this new Samsung product. The company would certainly be leaning into this as intends to establish its dominance in the smart ring space.
