Oura's competitors fall into three groups, according to its IPO prospectus: smartwatch makers such as Apple, Google and Samsung; fitness wearables such as Garmin, Coros and Whoop; and software-onlyOura's competitors fall into three groups, according to its IPO prospectus: smartwatch makers such as Apple, Google and Samsung; fitness wearables such as Garmin, Coros and Whoop; and software-only

新手学院/Trading Guide/US Stocks/Oura Competitors: Samsung, Apple and the Smart Ring Market

Oura Competitors: Samsung, Apple and the Smart Ring Market

作者：James Mitchell

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Sep 25, 2026James Mitchell

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Oura's competitors fall into three groups, according to its IPO prospectus: smartwatch makers such as Apple, Google and Samsung; fitness wearables such as Garmin, Coros and Whoop; and software-only health apps. In smart rings, Oura is far ahead, with about 74% of global shipments in the first half of 2025, research firm Omdia estimates.

Key Takeaways

A big fish in a small pond: Oura dominates smart rings, but the 3.6 million rings it sold in the 12 months to June 30, 2026 were only about 2% of global wearable shipments. Its real competitive set is the whole wearables market.
Three business models: Oura charges $5.99 a month on top of the ring. Samsung's Galaxy Ring and Ultrahuman's Ring Pro need no subscription for core features. Whoop charges only a membership, with the hardware included.
Patents are part of the moat: an ITC ruling for Oura kept Ultrahuman out of the U.S. from October 2025 and pushed RingConn into a royalty license, but Ultrahuman has since returned with a redesigned ring.
Samsung is fighting back: Oura and Samsung have sued each other, and Samsung's own ITC complaint seeks restrictions on imports of certain Oura Ring products.
Companion as often as replacement: 37% of Oura's new members say they wear another wearable alongside the ring, while 29% say it replaced one.

Who Are Oura's Main Competitors?

Oura's main competitors are large technology companies selling general-purpose smartwatches and trackers, led by Apple, Google (including Fitbit) and Samsung. Oura's prospectus also names fitness-focused, mostly wrist-based brands such as Garmin, Coros and Whoop, plus software health companies whose apps work across devices. Inside the smart ring category, the closest rivals are Samsung, Ultrahuman and RingConn.

Oura's own framing is that most rivals are built for notifications, fitness or activity tracking, while Oura is built for continuous, long-term health tracking. That is a positioning claim as much as an analysis. It still explains where Oura chooses to fight: overnight wear, recovery and health trends rather than screens and apps.

Smartwatch platforms: Apple Watch, Google Pixel Watch and Fitbit, and Samsung Galaxy Watch, backed by huge installed bases, app stores and phone integration.
Fitness wearables: Garmin, Coros and Whoop, built around training load, strain and recovery.
Smart ring makers: Samsung Galaxy Ring, Ultrahuman, RingConn, Amazfit from Zepp Health, Circular, and smaller brands such as Luna and Reebok.
Software-only health apps: services that read data from many devices and compete for the same health-insights spending.

How Big Is Oura's Lead in the Smart Ring Market?

Oura's lead in smart rings is very large. Omdia estimates Oura shipped about 74% of the world's smart rings in the first half of 2025, against about 9% each for Ultrahuman and Samsung and 5% for RingConn. In the U.S., the category's biggest market, IDC data puts Oura's share at about 85% by the end of 2025, up from 63.3% in 2024.

The U.S. matters most because that is where most smart rings are bought. IDC counted about 2.6 million smart rings sold in the U.S. in 2025, roughly 60% of the 4.4 million sold worldwide, TechCrunch reported. IDC research manager Jitesh Ubrani told TechCrunch that Ultrahuman's U.S. share climbed from 11.5% in 2024 to 24.6% in the second quarter of 2025, then fell to low single digits once import restrictions took effect, with Oura picking up most of that ground.

Zoom out and the picture changes. Global wearable shipments were about 212 million units in the 12 months to June 30, 2026, according to IDC figures cited in the amended prospectus, and Oura's 3.6 million rings were about 2% of that. Oura wins its niche decisively. The open question for investors is how much of the far larger wrist-worn market it can take.

Oura vs Samsung Galaxy Ring: How Do They Compare?

Samsung's Galaxy Ring is Oura's most direct big-company rival. It launched in July 2024 at $399.99 and delivers Samsung Health insights without a required subscription, but it works only with Android phones. Oura charges a membership, works with both iPhone and Android, and holds far more market share. The two companies are also suing each other over patents.

Business model: Samsung earns on the hardware and on keeping users inside its phone and watch ecosystem, without charging for ring insights. Oura needs the membership, which is 20% of its revenue and its highest-margin line.
Platform reach: the Galaxy Ring's Android-only limitation cuts out iPhone owners, which is where Oura competes with Apple instead.
Product cadence: Samsung has not launched a second-generation ring, and there was no Galaxy Ring 2 at its July 22, 2026 Unpacked event.
Legal fight: Samsung filed a pre-emptive suit against Oura in 2024, which a California federal court dismissed in March 2025. Oura then sued Samsung in the Eastern District of Texas over eight patents and filed an ITC complaint against Samsung, Reebok, Zepp Health and Nexxbase. Samsung answered with a Texas lawsuit of its own and, on December 12, 2025, an ITC complaint alleging that certain Oura products infringe four Samsung patents, the S-1 discloses.

The practical reading: Samsung is the rival that can undercut Oura on the cost of ownership and afford a long legal fight. Its weaknesses are the Android-only lock-in and a ring line that has not changed since 2024.

Oura vs Apple Watch: Competitor or Companion?

Apple Watch is both. Apple is the biggest name in health wearables and keeps adding features that overlap with Oura's, including FDA-cleared hypertension notifications and a sleep score in September 2025. Yet Oura's own survey data shows many members wear a ring and a watch together: 37% of new members say they use another wearable alongside Oura.

Apple's move matters because it lands on Oura's home ground. Apple's hypertension notifications review 30 days of optical heart sensor data, run on Apple Watch Series 9 and later with watchOS 26, and were expected to flag more than 1 million people with undiagnosed hypertension in their first year. The FDA cleared the feature in September 2025. Oura's answer is Blood Pressure Signals, built on nighttime readings, and its investigational blood pressure study had enrolled more than 350,000 participants by June 30, 2026, the S-1 says.

The companion case is in the numbers too. Of Oura's new members, 33% say it is their first wearable, 29% say it replaced a device and 37% wear it alongside another one. Oura argues the finger gives a much stronger optical signal than the wrist and that a screenless ring is easier to wear overnight. Paid members wore the ring for a median of about 23 hours a day in the latest quarter.

The risk to watch is not a head-on price war. It is Apple adding enough nighttime health insight that a second device, and a second subscription, starts to look unnecessary for iPhone owners.

How Does Oura Compare With Whoop, Ultrahuman and Other Ring Makers?

Whoop is the closest match to Oura's subscription model, and Ultrahuman is its most aggressive ring rival. Whoop sells a screenless wrist band only through a yearly membership of $199 to $359. Ultrahuman sells its Ring Pro for $479 with core features free of subscription, and it returned to the U.S. in 2026 after Oura's patent win had kept it out.

Whoop: Whoop One costs $199 a year, Peak $239 and Life $359, with the hardware included. Its private valuation reached about $10.1 billion, The Next Web reports, which shows investors will pay for subscription health data without a ring at all.
Ultrahuman: the ITC issued a limited exclusion order on Oura's '178 patent in August 2025, and Ultrahuman's rings were barred from U.S. import and sale after October 21, 2025. U.S. Customs ruled in March 2026 that the redesigned Ring Pro falls outside that order. Ultrahuman CEO Mohit Kumar told CNET he believes the company that leads on engineering will win the category.
RingConn and Circular: both took royalty-bearing licenses to Oura's patent rather than lose U.S. access, Android Central reported. Oura says the RingConn license runs for multiple years.
Amazfit, Reebok and Luna: Oura's ITC complaint also names Zepp Health, maker of the Amazfit Helio Ring, which sells for $199 with no subscription. Nexxbase agreed in January 2026 to keep the Luna Ring out of the U.S. for the life of the asserted patents, according to Oura.

What Is Oura's Competitive Moat?

Oura's moat has three layers: patents that have already won an import ban and royalties, a large base of engaged paying members backed by more than a decade of data, and healthcare partnerships that rivals have not matched. Each layer is real. Each also has a limit investors should understand.

Patents

Oura held more than 1,140 patents and patent applications at June 30, 2026, the S-1 says, and the '178 patent on the ring's internal construction delivered the Ultrahuman import ban. The limit showed up quickly. Ultrahuman designed around it, Samsung is challenging Oura's patents and suing back, and patent fights cost money on both sides.

Data and Engagement

Oura says it has collected nearly 42 billion hours of biometric data. Its members also stay: 12-month paid member retention was about 85% and the daily-to-monthly active user ratio about 65%. About 72% of members are women, and women's health, from cycle tracking to menopause, is a use case Oura has built its own AI model for. The limit is scale. Apple and Samsung collect health data from far larger installed bases.

Healthcare Partnerships

Oura connects to more than 1,200 partners. The S-1 names Natural Cycles for women's health, Strava for activity, and LillyDirect, Eli Lilly's digital health platform, and Resmed as connected-care partners, and the app shows glucose readings from Dexcom's Stelo biosensor. Lilly is also an investor: it holds a $50 million SAFE that converts into shares at the IPO and has indicated interest in buying up to $100 million of IPO shares. The limit is regulation. Oura markets most features as general wellness rather than as medical devices, while Apple already holds FDA clearances for features such as hypertension notifications.

What Could Competition Mean for Oura's Numbers?

Competition would show up in Oura's numbers in three places: ring prices, membership sign-ups and retention, and legal costs. Oura's own risk factors warn that rivals may discount hardware or offer memberships with no subscription fee. Two of its biggest ring rivals already charge no required subscription, so Oura has to keep earning the monthly fee.

Three-year cost of ownership, using U.S. list prices as of September 2026:

Oura Ring 5, base finish, with annual membership: $399 + 3 × $69.99 = about $609, based on Oura's published prices.
Samsung Galaxy Ring: $399.99, with no required subscription.
Ultrahuman Ring Pro: $479, with core features subscription-free.
Amazfit Helio Ring: $199, with no subscription.
Whoop One or Whoop Peak: 3 × $199 = $597, or 3 × $239 = $717, hardware included.

Over three years, an Oura owner pays about $210 more than a Galaxy Ring owner and about $130 more than an Ultrahuman owner. Oura's 85% retention says most members still think that premium is worth paying. If retention slips, or if Oura has to cut ring prices to hold share, the effect lands on the two lines investors watch most closely: membership revenue and hardware margin.

Which Oura Competitors Can You Invest In?

Of Oura's named competitors, Apple (AAPL, Nasdaq), Alphabet, Google's parent (GOOGL, Nasdaq), Garmin (GRMN, NYSE), Zepp Health (ZEPP, NYSE) and Samsung Electronics (Korea Exchange) are publicly traded. Whoop, Ultrahuman and RingConn are private. Oura itself is expected to list on Nasdaq under OURA after pricing its IPO during the week of September 28, 2026; the Oura IPO guide covers the date, price range and valuation.

On MEXC, eligible users can already trade OURAUSDT Pre-IPO Perpetual Futures, a derivative on Oura's expected share price that carries no ownership. What Is OURA Pre-IPO Futures? explains how the contract works and how to go long or short. For listed rivals, the MEXC Stocks page shows which names and products are available in your region.

Oura Competitors FAQ

Who is Oura's biggest competitor?

In smart rings, Samsung and Ultrahuman are Oura's largest rivals, each with about 9% of global shipments in the first half of 2025 against Oura's 74%, according to Omdia. Across all wearables, Apple is the biggest competitor, because Apple Watch covers many of the same sleep and heart-health features.

Is the Samsung Galaxy Ring better than Oura?

It depends on what the buyer values. The Galaxy Ring costs $399.99 with no required subscription, but it works only with Android phones and Samsung has not released a second generation. Oura costs more over time because of its membership, works with iPhone and Android, and holds far larger market share.

Why was Ultrahuman banned in the U.S.?

The U.S. International Trade Commission found that Ultrahuman's rings infringed Oura's '178 patent on smart ring construction and issued a limited exclusion order in August 2025, which took effect after October 21, 2025. U.S. Customs later ruled that Ultrahuman's redesigned Ring Pro is not covered by the order.

Does Oura charge a subscription when competitors don't?

Yes. Oura Membership costs $5.99 a month or $69.99 a year in the U.S. Samsung's Galaxy Ring, Ultrahuman's Ring Pro and Amazfit's Helio Ring do not require one for core features, while Whoop charges only a membership that includes the hardware.

About 74% of global smart ring shipments in the first half of 2025, according to Omdia, and about 85% of the U.S. market by the end of 2025, according to IDC data reported by TechCrunch.

Is Whoop a competitor to Oura?

Yes. Oura lists Whoop among its fitness-focused competitors. Whoop sells a screenless wrist band through a yearly membership of $199 to $359 and competes for the same buyers who pay for sleep and recovery insights.

Can Oura's patents stop competitors?

Partly. Oura's '178 patent led to a U.S. import ban on Ultrahuman's earlier rings and royalty licenses from RingConn and Circular. But Ultrahuman redesigned its ring to return to the U.S., and Samsung is contesting Oura's patents while pursuing its own infringement claims against Oura.