Apple's "iRing" Smart Ring: Unpacking the Kosutami Leak, the Gurman Contradiction, and What the Market Data Says

Kosutami has a track record of accurate Apple hardware tips and prototype collecting . However, the claim remains unverified by Apple and has no corroborating supply-chain evidence . As 9to5Mac noted, "just because an 'iRing' might be in development doesn't mean we'll end up seeing the product materialize" .

The Direct Conflict with Mark Gurman's Reporting

The Kosutami leak directly contradicts Bloomberg's Mark Gurman, who has been the most authoritative voice on Apple's internal thinking:

• February 2024: Gurman reported that Apple was merely "pondering" the idea of a fitness ring, with no active engineering work .
• October 2024: Gurman firmly stated Apple was not actively developing a smart ring and had no plans to launch one, citing concerns it would cannibalize Apple Watch sales . He wrote, "Apple isn't actively developing a ring and has no plans to launch one" .
• June 2025: Gurman shifted his public tone, publishing a newsletter arguing Apple should launch a smart ring competitor to Oura, but he offered no indication of active internal development .
• March 2026: Gurman reported that a top Apple hardware engineering executive overseeing home devices was leaving to join Oura, calling it a "setback" .

The bottom line: Gurman's October 2024 reporting flatly denied active development. Kosutami's June 2026 leak claims the opposite. Given Gurman's strong track record with Apple, skepticism is warranted. However, the timing — as the smart ring market accelerates — makes a renewed Apple effort plausible .

Apple's Decades-Long Smart Ring Patent Trail

Apple has been filing smart ring patents since at least 2015, with no let-up. Patents alone do not prove a product is coming, but they show sustained R&D interest .

• 2015: First known Apple ring patent filed ("Devices and methods for a ring computing device"), granted as US10444834B2 in 2019 .
• 2020: Patent published for a "Smart ring" with gesture and sensing components (US20220085841A1) .
• 2021: Patent for "Electronic system with ring device" filed (US11829831B1) .
• August 2023: Granted patent for a smart ring with pressure-sensitive input and haptic feedback .
• August 2024: Granted patent for smart ring with health sensors and control of Mac, TV, and smart glasses .
• September 2024: Two new patent filings for SMI (self-mixing interferometry) heart-rate sensing and Vision Pro haptic controls .
• July 2025: Apple granted its third expandable smart ring patent, designed for VR/Vision Pro use .
• August 2025: Patent revealing smart-home-control capabilities for the ring .
• February 2026: Another continuation patent filed for a "Ring device" (US20260037065) .

Apple has accumulated dozens of smart ring patents covering health sensing, gesture control, haptics, device control, and expandable designs .

The Smart Ring Market: Ready for Apple?

The market context makes an Apple entry strategically logical.

Market Size (Revenue)

Estimates vary, but all major analysts agree the market is growing rapidly, with a consensus around $500 million to $1 billion in 2026 .

Shipment Growth

• 2023: ~850,000 units (Omdia)
• 2024: ~1.8 million units (Omdia)
• 2025: Projected to exceed 4 million units, more than doubling from 2024
• 2025 growth: IDC data cited by Bloomberg shows a 49% jump in 2025 shipments, far outpacing the ~6% growth in smartwatches .
• Q1 2026: Global shipments grew only 3% YoY, attributed to temporary seasonal factors, with a strong double-digit rebound expected through 2027 .

Competitive Dynamics

• Oura dominates with approximately 79% global market share in Q1 2026 . It sold over 5.5 million rings cumulatively . In March 2026, Apple's own hardware engineering executive left to join Oura, underscoring its strength .
• Samsung's Galaxy Ring launched in July 2024 and is the second major competitor . Samsung has been rolling out Galaxy AI features optimized for the ring .
• The category's growth is driven by smartwatch fatigue, smaller form factors, and continuous health monitoring capabilities .

Apple's entry, if real, would put it against Oura's entrenched user base and Samsung's integrated ecosystem play.

Summary Assessment

Kosutami's leak is the strongest claim yet that Apple is actively developing a smart ring, but it conflicts directly with Mark Gurman's authoritative October 2024 reporting that Apple had shelved the concept. Apple's extensive patent portfolio shows sustained R&D interest since 2015, and the rapidly growing market (~$500M+ in 2026, with Oura at ~79% share) provides a clear strategic rationale for Apple to enter. No corroborating supply-chain evidence exists yet, so treat the leak as unverified but plausible.