Samsung launches the Galaxy Ring – a novel product for the technology giant

PARIS — Samsung on Wednesday unveiled the Galaxy Ring, its first foray into the world of “smart rings.” The South Korean tech giant goals to integrate its products — akin to smartphones and wearables — and offer health-tracking features that rival Samsung's. Apple's into the room.

The Galaxy Ring, which Samsung has been announcing for several months, is a light-weight ring equipped with sensors that enable 24/7 health monitoring, the corporate said Wednesday at its Galaxy Unpacked event in Paris.

Samsung's foray right into a latest product category comes at a time when smartphone sales are recovering barely but users are holding on to their devices longer. Device makers are in search of electronic add-ons to sell.

For Samsung, the Galaxy Ring is a brand new device that may track health features alongside smartphones and smartwatches. In recent years, Samsung has tried to market its health apps – which have gotten increasingly popular with consumers – as a key reason to purchase such products.

And Samsung is positioning the ring as a tool that could be worn alongside its smartwatches and smartphones and has artificial intelligence to offer a comprehensive picture of an individual's health. This move could boost sales of the corporate's other products.

“This will be the star of the show, all eyes will be on this new device and this new category from Samsung,” Paolo Pescatore, founding father of PP Foresight, told CNBC.

Pescatore said the ring was a “product that could help boost smartphone sales and migrate users to its platform.”

According to Samsung, the Galaxy Ring can monitor the next things:

• Sleep: The device can monitor an individual's movements during sleep, time to go to sleep, heart and respiration rate, and supply an evaluation of sleep quality.

• Menstrual cycle: Samsung says it uses skin temperature to trace an individual's menstrual cycle.

• Pulse: The Galaxy Ring can inform users when their heart rate is unusually high or low. Users may also check their heart rate in real time.

• Exercise: The Galaxy Ring can detect the style of exercise or activity an individual is doing.

The Galaxy Ring weighs between 2.3 and three grams depending on the scale. The device is out there in three colours.

According to Samsung, the Galaxy Ring's battery lasts as much as seven days. Like the wireless Air Buds, there's a transportable charging case.

The Samsung Galaxy Ring might be available starting July 24 and can start at $399.99.

On Wednesday, Samsung also unveiled its latest smartwatches – the Galaxy Watch 7 and Galaxy Watch Ultra. It is the primary time the corporate has released an “Ultra” model of its smartwatch, a tool designed for athletes and those that enjoy activities akin to mountain climbing and mountaineering.

The watches feature latest sensors and sports tracking features.

Samsung also launched its latest foldable devices on Wednesday: the Galaxy Z Fold 6 and Z Flip 6.

With the ring, Samsung is attempting to bind users more closely to its product ecosystem.

For example, when the smartwatch is connected to the phone, users can answer calls or take a photograph with a “double pinch” motion of their fingers.

When the Galaxy Ring, smartwatch and phone are paired together, Samsung says users get a more detailed picture of their health, especially when sleeping, since the devices pull data from more sources. Samsung said the ring's battery life is prolonged when worn along with the smartwatch.

“In fact, the watch and ring are part of a growing ecosystem that is becoming increasingly important as AI technology relies on data collected from different devices. The more devices a user has from the same brand, the more comprehensive the data collected, increasing the effectiveness of digital AI assistants,” Francisco Jeronimo, vp of device research for Europe, Middle East and Africa at IDC, told CNBC via email.

“This truly personalized experience will encourage users to choose devices from one brand over another.”

Like Apple, Samsung has also pushed ahead with the networking of its devices in recent times with the intention to promote user loyalty.

“It's no great surprise that Samsung is increasingly linking its products to an 'ecosystem story.' Apple has shown that fostering interdependence between products is an extremely effective way to keep consumers loyal to a particular brand,” Ben Wood, head of research at CCS Insight, told CNBC.

Although the Galaxy Ring is unlikely to be a best-seller for Samsung, it does underscore that the technology company desires to expand its target market.

“The Galaxy Ring is an interesting bet by Samsung,” Wood said, adding that the product category is a “niche segment” and that around 4 million rings are expected to be shipped in 2025. This is a “rounding error” compared to the 250 million smartphones expected to be sold next yr.

“However, it is a device category that fits well with growing consumer interest in health data monitoring and complements Samsung's current smartwatch sales, particularly in sleep monitoring.”

While smartwatches are large devices, a wise ring is less intrusive and could be worn way more comfortably at night.

Samsung will not be the one company selling such devices. Oura, considered one of the market pioneers, has sold 2.5 million units of its products within the last nine years, in accordance with CCS Insight. Since Samsung announced the ring earlier this yr, other players available in the market have also develop into interested. CNBC reported in February that Chinese electronics giant Honor is developing its own smart ring.

Wood said Samsung will have the option to ascertain itself in a bigger marketplace for smart rings than other competitors.

“Samsung is likely to be the market maker due to its global reach and significant marketing budget, raising awareness of a new product category that most consumers have not even heard of,” said Wood.

The Galaxy Ring could open up latest revenue streams for Samsung within the software space. Users can access their data from the wearables through the Samsung Health app. Hon Pak, the pinnacle of Samsung's digital health team, told CNBC in February that the corporate is “considering” a subscription service for the app.

“This category may not be a major revenue generator for Samsung, but it helps expand the wearable portfolio and opens the door for new services in the future if the company decides to do so,” said IDC's Jeronimo.