Samsung Works on New Project Called Galaxy Ring to Compete with Smartwatches
Samsung, the South Korean technology company, is developing a new product called Galaxy Ring that aims to compete with smartwatches. The project focuses on creating a smart ring that offers similar functions as mobile phones.
According to a report in The Economist, electronic devices are becoming increasingly important in our daily lives. While users may feel saturated with the number of devices available, technology companies continue to innovate. One area that has seen significant growth is health technology, with devices and applications helping individuals monitor and control their well-being.
Initially designed for tracking physical activity, smartwatches have evolved to become more than just fitness accessories. They now offer numerous health monitoring functions. Samsung, however, wants to challenge the dominance of smartwatches by introducing a smaller and more comfortable alternative.
Earlier this year, Samsung registered a patent for a smart ring, and it has now started collaborating with Meiko, another technology company, to develop the Galaxy Ring. The ring is expected to feature multiple sensors for tracking and monitoring health-related information, such as heart rate, electrocardiogram, activity level, and sleep patterns. The collected data will then be sent to a smartphone for analysis.
Although the Galaxy Ring will not display the time like a traditional watch, its compact size and comfort make it ideal for continuous wear. For instance, unlike watches, people often take off their devices while sleeping, but a ring can be worn throughout the night, providing uninterrupted health monitoring.
Currently, the Galaxy Ring is still in the development phase, and there is no confirmed release date. Samsung will likely assess the first prototype before deciding to mass-produce this innovative smart ring.
In other news, the global smartphone market has experienced a decline in unit sales, with a reported 11% decrease in the second quarter of the year compared to the same period in 2022. This slowdown has affected most manufacturers equally, including Samsung and Apple. However, both companies continue to lead the sector, with Samsung holding a 21% market share and Apple maintaining a 17% share.
Xiaomi remains in third place with a 13% market share, slightly lower than the previous year. The success of Xiaomi’s Redmi series, focused on the mid-range segment, has contributed to its performance. These three market leaders represent a combined majority of 51% of total sales.
OPPO, including its sub-brand OnePlus, has secured the fourth position with a 10% market share, primarily driven by increased sales in the Asia-Pacific region. Meanwhile, Vivo, with an 8% market share, has established itself among the top five manufacturers, boosted by the success of its new Y series launches, which offer high performance at reasonable prices.