Oura, a Finnish smart ring manufacturer, has officially entered the Indian market, aiming to compete with local brands like Ultrahuman in an emerging smart ring segment that is rapidly becoming more cost-conscious due to the rise of affordable alternatives. The Oura Ring 4 is priced between ₹28,900 (approximately $313) and ₹39,900 (around $432), in addition to a monthly subscription fee of ₹599 (about $6). In contrast, Ultrahuman offers its Ring Air at ₹28,499 (about $308) and the higher-end Ring Pro for ₹42,990 (around $465).
Despite the product’s innovative features, India’s smart ring market remains relatively small, with shipments projected to decline by 30.6% in 2025 compared to the previous year. Average prices for smart rings are expected to drop by 8.7%, according to IDC, highlighting the growing presence of budget-friendly options. Vikas Sharma, a senior market analyst at IDC, noted that smart rings in India are still a niche offering, suffering from low consumer awareness and high price points despite the availability of cheaper alternatives. Initial excitement for this emerging technology has not maintained steady growth, partly due to limited promotional activities from brands that typically focus on larger markets.
Market competition is also sparse, with only a few players, making it difficult to build an ecosystem for awareness and innovation. Ultrahuman currently leads the smart ring sector in India with a 30.4% market share, followed by Gabit at 18.3%.
Oura is marketing the Ring 4 as a premium health device, emphasizing a combination of high-quality hardware and a subscription service that provides tailored insights into metrics such as sleep, activity, and recovery. This strategy differentiates Oura from many local competitors, who primarily compete based on price.
The competition between Oura and Ultrahuman extends beyond India, as Oura has previously sued Ultrahuman in the U.S., affecting the smaller company’s sales. Ultrahuman has since modified its new Ring Pro to bypass Oura’s patents and seeks clearance from U.S. authorities for legal imports.
In conjunction with its launch, Oura released a report detailing sleep patterns among its Indian users, highlighting that they average just over six and a half hours of sleep per night—below recommended levels—and spend less time in restorative sleep compared to global norms. These findings illustrate both the potential and difficulties in India; while health consciousness is growing, generating demand for premium subscription-based products in a highly price-sensitive market remains uncertain.
Industry observers believe that increased competition and product diversification will be crucial to driving demand in this sector.
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