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Oura Files To Go Public As Smart Ring Competition Intensifies

by THEFUTURE.TEAM

Oura is moving ahead with plans to go public as competition in the smart ring market intensifies. On Sept. 3, the company formally filed to go public, following a period of rapid growth and new competition from startups and major technology companies.

The Finnish company has built a leading position in a category it helped define. Revenue nearly doubled to $1.21 billion for the nine months ended June 30, while Oura said it sold 3.6 million rings over the past year and now has roughly 5 million paid members. Its IPO filing follows the recent launch of the Oura Ring 5, the company’s slimmest and lightest model to date.

A Strong Leader Faces A More Crowded Field

Oura has been the category’s clear front-runner for years, but that lead is becoming harder to defend. Rivals are approaching the market from different angles, betting that new features will help them win consumers.

French startup Circular announced this week that its next ring will support tap-to-pay functionality. Chinese company RingConn introduced a model this year with haptic vibrations, while Indian startup Ultrahuman raised $70 million with backing from Qualcomm’s venture arm.

Ultrahuman is pursuing a broader vision for the category, aiming to build a ring that can run software on-device and eventually support applications ranging from AI experiences to games.

From Health Tracker To Wrist-Free Computer

Competition is no longer limited to sleep scores or more detailed recovery insights. Smart ring makers are increasingly adding capabilities that were once associated with smartphones and smartwatches.

Some devices now include screens, such as the Pebble Halo, while others, including the Dreame Ring, promise touchpad controls. As these features expand, smart rings are taking on a more complex identity as health trackers, communications devices and miniature computing platforms.

That evolution is notable because smart rings initially attracted users partly by being less intrusive than watches and phones. They offered health monitoring without the constant presence of a display, but current product roadmaps could push the category in a different direction.

Here is a look at the most notable challengers seeking a share of Oura’s market.

Ultrahuman

Earlier this year, Ultrahuman unveiled its third-generation device, the $479 Ring Pro, which is expected to begin shipping in the US in mid-September. Its American business was disrupted in October 2025 after the US International Trade Commission ruled in Oura’s favor in a patent dispute, blocking new ring imports.

In response, Ultrahuman redesigned the Ring Pro’s form factor to address Oura’s patent claims. The new model includes a heart-rate sensing system intended to improve signal quality during sleep, along with a dual-core processor designed to improve data accuracy and increase on-device processing.

Ultrahuman also appears focused on expanding beyond health and sleep tracking toward a more software-driven product category.

Circular

Circular’s upcoming Ring 3 series, which includes Pro and Slim versions, is expected to launch early next year. Both rings will feature an integrated NFC chip for contactless payments and on-finger vibrations for silent alarms, reminders, vital alerts and other notifications.

The Ring 3 Pro will also have a thinner design than its predecessor and add FDA-cleared ECG for AFib detection, blood pressure trend tracking, glucose tracking, advanced sleep analysis and broader biometric monitoring. Pricing has not yet been disclosed.

RingConn

RingConn’s Gen 3 launched in May and starts at $349. It offers vascular health insights that analyze changes in vascular strain over time after calibration with externally measured blood pressure values.

Other features include heart rate, blood oxygen saturation, sleep, activity and stress tracking. Vibration alerts can notify users about health changes, sedentary periods and low battery levels.

Unlike Circular, which is using haptics to make the ring more interactive, RingConn is positioning vibration primarily as a health notification tool.

Samsung

Samsung became the first major technology company to enter the smart ring market in 2024 with the Galaxy Ring, which sells for $399. For consumers already invested in Samsung’s broader device ecosystem, it remains one of the most compelling options.

Still, the Galaxy Ring is relatively conservative on advanced health features compared with some rivals. It does not offer sleep apnea detection, available on Oura, RingConn and Ultrahuman, or AFib detection, available on Circular and RingConn devices.

Dreame

Dreame, a newer entrant, introduced a ring earlier this year with haptic alerts for alarms, calls, messages and other notifications. A small touchpad also allows users to skip music or take photos on their phones.

The company says the device will track heart rate, blood oxygen, heart rate variability and sleep. Pricing and availability have not yet been announced.

The Bigger Question For The Category

Smart rings are no longer a niche market dominated by health-tracking startups. Competition is increasingly centered on what the category should become: a discreet wellness device or a multifunctional platform competing more directly with smartphones and wearables.

Oura still has the strongest brand and a meaningful lead, but rivals are adding payments, haptics, touch controls, on-device software and displays. As those capabilities expand, competition is shifting from who can measure the body best to who can define the next generation of personal computing.

LVMH Revenue Rises, But China Weakness Continues To Weigh On Luxury Giant

by THEFUTURE.TEAM

A Softer Quarter Exposes The Limits Of Luxury’s Recovery

LVMH, the world’s largest luxury group and parent of Louis Vuitton, Dior, Celine and Hennessy, reported revenue of €18.5 billion in the three months to the end of September, underscoring both the scale of its business and the pressure building across parts of the luxury market.

The company’s revenue rose 1.2% year on year in the third quarter, following a 0.1% increase in the second quarter and a 5.9% decline in the first. The trajectory points to stabilization, but not yet to a convincing rebound.

Organic Growth Misses Expectations

Organic sales growth, which strips out currency effects and portfolio changes, slowed to 1% in the third quarter from 3% in the previous quarter. That result fell short of market expectations and reinforced concerns that the luxury cycle remains uneven.

For the first nine months of the year, LVMH generated sales of €57.1 billion, with organic growth of 2%.

In its statement, the company highlighted the breadth of its portfolio, saying that diversification continues to provide resilience in an uncertain geopolitical and economic environment. That remains one of LVMH’s defining strengths: when one category weakens, another can help offset the downturn.

China Remains The Key Pressure Point

LVMH said sales performed well in the United States, Europe and Japan, but conditions in China remained less favorable. That matters because the country has long been one of the most important growth engines for global luxury brands.

The fashion and leather goods division, LVMH’s most closely watched unit, saw organic sales fall 5% as weaker demand in China weighed on performance. Deutsche Bank said the decline was steeper than the roughly 2% drop expected by analysts.

The segment had delivered its first organic sales gain in two years in the previous quarter, making the latest retreat a notable setback.

Brand Equity Faces A Test In China

The quarter also highlighted the reputational risks facing global brands in China. Louis Vuitton drew criticism after suing local tea company Molly Tea over logo copying. Although the company won the case, the dispute sparked social media backlash and boycott calls, adding another layer of pressure to an already fragile environment.

For a company built on scarcity, aspiration and brand discipline, perception is an asset as valuable as inventory. In a market as digitally connected as China, that asset can shift quickly.

Mixed Performance Across The Portfolio

Not every division weakened. LVMH’s selective retailing business, which includes Sephora, posted an 8% organic sales increase. Watches and jewellery, along with wines and spirits, both recorded 6% organic gains.

That broad mix is precisely what has historically given LVMH an advantage over rivals: it can absorb softness in one category without relying on a single growth driver.

Analysts See A Longer Recovery Ahead

Deutsche Bank analysts said the results could lead to further cuts in earnings forecasts for the second half of 2026 and 2027. They added that it is difficult to see what could improve investor sentiment in the near term.

Still, the bank framed the weakness as cyclical rather than structural. In its view, recovery is taking longer because Chinese demand remains subdued, but the problem does not appear to reflect a permanent deterioration in the brand franchise. Analysts said ongoing brand initiatives are beginning to show results, though improvements are likely to remain gradual.

Investor Pressure Continues To Mount

LVMH’s share price has fallen nearly 40% since the start of the year. In September, L’Oréal overtook the group as France’s most valuable listed company, a symbolic shift that captures how sharply sentiment has changed.

Shares in LVMH were down more than 1.6% in Paris around 10 a.m. CEST following the release.

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