Wearables Week in Review

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Week In Review

Smart ring competition

Movano Health’s Evie smart ring will go on sale in September, priced at $269. The smart ring is designed specifically for women, somewhat carving out a niche of a niche (the ring business is still a small segment of wearables overall). Oura, the best-known name in the smart ring market, is slightly more expensive, priced at $299. But where Movano looks set to really differentiate is that the company does not charge an ongoing monthly subscription fee. While Oura charges just $5.99 per month, that certainly adds up over time.

The Circana Take:

  • Oura knows the competition is coming and is targeting women’s health benefits with its ring to pre-empt any marketing by Movano.
  • Movano’s Evie Ring does not yet qualify as a medical-grade device by the FDA. As such, that gives Oura the edge.
  • But the Evie Ring looks a little more attractive than the Oura Ring and, at the end of the day, this is jewelry… looks matter more than even the data.

Garmin preps a new launch

Garmin is expected to launch new iterations of its Epix and Fenix range, with “Pro” versions. While details are scarce, the new devices are expected to include ECG functionality (currently only the Venu 2 Plus has this health feature) and the watches may offer a wider range of sizes (according to some purportedly leaked images, the Epix Pro 2 may have 42mm, 47mm and 51mm). In anticipation of the upcoming launch, now may be the time to scoop up a deal on the slightly older Fenix 7. Amazon and Best Buy are both offering the watch for $499, nearly 30% off its $699 MSRP. That suggests a clearing of old inventory before the new generations arrive.

The Circana Take:

  • Garmin still enjoys a strong following thanks to its focus on sports. However, the company is clearly coming under market pressure from Apple’s Watch Ultra, which also targets more rugged sports use cases.  
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