Oura introduces world's smallest smart ring
What's the story
Oura, a Finnish-American company known for its stylish smart rings, has launched its latest product: the Ring 5. The new device is touted as the world's smallest smart ring and is a significant upgrade over its predecessor, the highly popular Ring 4. The launch comes as Oura prepares for an initial public offering (IPO) later this year.
Design evolution
Device focuses on sleep, stress levels and heart health
The Ring 5 is 40% smaller than its predecessor, but promises a longer battery life. It packs the health-tracking capabilities of a smartwatch into a sleek piece of jewelry just 2.28mm thick. The device focuses on monitoring sleep, stress levels, readiness, and heart health. "The [Ring 5] is the most capable wearable we've ever made - small enough to fit seamlessly into everyday life, and significant enough to set a new standard," said Holly Shelton, Oura's Chief Product Officer.
Market expansion
Ring 5 starts at $399 with monthly subscription fee
The fifth-generation Ring 5 will be available for purchase starting at $399. Users will also have to pay a monthly subscription fee of $5.99. Oura hopes this new model will not only strengthen its position in the growing smart ring market but also attract new users who may have been put off by bulkier models or the appearance of other wearables.
Company trajectory
Oura has sold over 5.5 million rings across 4 generations
Founded in 2013, Oura has been a pioneer in the smart ring market. The company has sold 5.5 million rings across four generations and 150 different countries. Now with about five million paying subscribers and a fourfold revenue growth over the past two years, Oura is valued at $11 billion ahead of its upcoming IPO.
International reach
Oura's partnerships and celebrity endorsements have fueled its growth
Oura has expanded its operations beyond Finland, with offices in Helsinki, London, Los Angeles, San Diego and dual headquarters in San Francisco and Oulu (Finland). The company has formed over 1,200 partnerships across health, wellness and commercial sectors. Its focus on sleep as a key aspect of health tracking has made it popular among high-profile users such as Jennifer Aniston, Gwyneth Paltrow and Kim Kardashian.