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智能穿戴设备起源于上世纪90年代，以电子表、计步器为主，能力单一，仅能达成计时、闹钟或简单计步。2010年前后，随着蓝牙、低功耗芯片和微型传感器成熟，智能手表、智能手环、智能耳机、智能眼镜、VR/VR头显……各类品牌爆品涌现。
如今，智能穿戴工艺正在重塑生活的方维度面，其应用情形已经从早期的实验尝鲜阶段，快速拓展到健康监测、运动管理、娱乐、时尚等多个核心领域。依托物联网、人工智能、传感器等前沿工艺的迭代升级，设备的能力边界持续拓宽，朝着更智能、更集成、更贴合个人需要的方向发展。预计到2030年，全球智能穿戴市面规模将增长至2168亿美元。
智能戒指正在成为可穿戴赛道的下一个必争之地。与大众熟悉的智能手环相比，它的外形更精致、佩戴更舒适，加之监测数据精准（手指血管更加多元，可以获取到比手腕强100倍的PPG，也就是光电容积脉搏波信号），集心率监测、睡眠分析、压力追踪等能力于一身，正逐步成为健康管理市面的关键一环。
作为这一细分赛道的领头羊，估值超过160亿美元（约合人民币1074亿元）的Oura备受关注。公开资料表明：这家AI硬件公司总部位于美国旧金山，在芬兰奥卢、赫尔辛基及美国圣地亚哥设有办公室，员工超过900人。截至2026年6月30日的过去12个月，累计卖出360万枚Oura Ring，平均下来，相当于每天卖出接近1万枚。
时间回到2013年，三位具备诺基亚、Polar等科技企业从业背景的芬兰工程师——佩特里・拉赫泰拉（Petteri Lahtela）、卡里・基韦莱（Kari Kivelä）、马尔库·科斯克拉（Markku Koskela），在北极圈附近的小城奥卢创办了Oura。这里是芬兰关键的通信和电子产业中心（曾是诺基亚最核心的研发中心之一），聚集了大量工程师和工艺人才。
他们希望用一枚戒指持续、舒适地追踪人体最核心的健康信号，2015年3月发布第一代Oura Ring，拉赫泰拉抛出了一个难题：笔者都知道手机还剩多少电，却未必知道自己的身体还剩多少“电”。
2017年11月，第二代Oura Ring（Gen2）在芬兰Slush科技大会上首次亮相，2018年正式量产发售。2021年10月推出的Oura Ring Gen3，开始引入订阅制服务，使用者每月支付5.99美元或每年69.99美元即可解锁深度数据洞察。2024年10月发布的Oura Ring 4，新增Oura Advisor AI智能助手，把戒指采集的数据转化成更完整的健康解释。
2026年5月，起售价399美元的Oura Ring 5正式上市。公司从零开始重新外观了机械、电气、光学和电池结构，新品由非过敏性钛合金制成，尺寸为6.09mm（宽）×2.28mm（厚），相比上一代体积缩小40%，重量仅有约2克，一次充电通常可以使用6-9天，具有IP68防尘防水（100米水深）。
Petteri Lahtela
最初，Oura只在硅谷极客圈子里小众存在，直到2018年，哈里王子被拍到佩戴Oura Ring，销量一夜增长十倍。后来，《老友记》瑞秋扮演者詹妮弗·安妮斯顿、奥斯卡影后格温妮丝·帕特洛、C罗、马克·扎克伯格、谷爱凌等名人纷纷“带货”，让这款硬件机型迅速破圈。值得一提的是，2020年，NBA在复赛期间采购超过2000枚Oura Ring发放给球员和工作人员。
随着知名度提高，公司业绩也随之水涨船高。2024财年（对应自然年2023年10月1日-2024年9月30日）收入还只有4.07亿美元。2025财年收入同比上涨123%至9.08亿美元。截至2026年6月30日的九个月，公司收入进一步增长至12.15亿美元，同比上升74%；同期净利润从160万美元增长到6080万美元。
从收入结构看，硬件仍然是Oura主要收入来源。2026财年前九个月，硬件收入达到 9.74亿美元，同比增长65%，占总收入的八成。不过会员订阅业务增长势头迅猛，收入同比上涨121%至2.405亿美元，占比从16%提高到20%。更关键的是，会员业务毛利率高达89%（公司总体毛利率55%），贡献的毛利润占公司总体毛利润约32%。
事实上，早在2022年，首席执行官汤姆·黑尔（Tom Hale）将Oura重新定义为“数据与AI公司”，而非硬件厂商。截至2026年6月30日，公司付费会员数量达到500万，已经连续7个季度同比增长超过100%；72%是女性。过去12个月付费会员加权平均留存率约85%。2026财年第三财季，付费会员平均每天佩戴戒指大约 23个小时。
写在最后
2026财年，Oura预计营收接近20亿美元，在当前的智能戒指市面，可谓是一家独大，但并非高枕无忧。其身后还有Ultrahuman、Circular、Noise、boAt、Zepp等品牌。
巨头也闻风而来。2024年7月，三星正式发布开售Galaxy Ring，并将其接入Samsung Health和Galaxy AI，且不收取订阅费。苹果则不断申请智能戒指相关专利，涵盖从健康监测到跨设备手势控制。
中国企业自然不会缺席，涌现出原子埃尔、弦指科技、邮爱他科技等初创企业。前Zealer创始人、前格力副总裁王自如，小米前高管王腾均宣布进军智能戒指行业。
华米科技在2024年初推出旗下首款智能戒指Amazfit Helio Ring。家电企业追觅科技也加入竞争，就在3月的AWE 2026中国家电及消费电子博览会上，正式发布首款健康旗舰智能戒指Glow。
华为虽然未亲自下场，但旗下华为智选以HarmonyOS Connect生态合作形式进入该领域试水。除此之外，小米、荣耀、OPPO也被爆料正在研发智能戒指。这一领域的火热肉眼可见。
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Smart wearable devices originated in the 1990s, primarily as electronic watches and pedometers, offering limited functionality such as timekeeping, alarms, or basic step counting. Around 2010, with the maturation of Bluetooth, low-power chips, and miniature sensors, a wave of popular products emerged, including smartwatches, smart bracelets, smart headphones, smart glasses, VR/AR headsets, and more.
Today, smart wearable technology is reshaping various aspects of life, with applications expanding rapidly from early experimental stages into core domains such as health monitoring, sports management, entertainment, and fashion. Driven by advancements in the Internet of Things, artificial intelligence, and sensor technology, device capabilities are continuously expanding, moving toward greater intelligence, integration, and personalization. It is estimated that the global smart wearable market will grow to $216.8 billion by 2030.
Smart rings are becoming the next battleground in the wearable device sector. Compared to the widely known smart bracelets, they are more compact, comfortable to wear, and feature precise data monitoring (finger veins allow for 100 times more sensitive PPG signal acquisition), integrating heart rate monitoring, sleep analysis, stress tracking, and other functions to become a key part of the health management market.
As the leader in this niche market, Oura, with a valuation exceeding $16 billion (approximately 107.4 billion CNY), is particularly notable. Public data shows that this AI hardware company is headquartered in San Francisco, USA, with offices in Oulu and Helsinki, Finland, as well as San Diego, USA, employing over 900 people. In the 12 months ending June 30, 2026, it sold a total of 3.6 million Oura Rings, averaging nearly 10,000 units per day.
The story begins in 2013, when three Finnish engineers with backgrounds at Nokia and Polar — Petteri Lahtela, Kari Kivelä, and Markku Koskela — founded Oura in Oulu, near the Arctic Circle. This city is a key center for Finland’s telecommunications and electronics industry (formerly Nokia’s core R&D hub), rich in engineering and technological talent.
They aimed to create a ring that continuously and comfortably tracks the body’s most critical health signals. In March 2015, they released the first-generation Oura Ring. Lahtela posed a rhetorical question: “We all know how much battery our phones have left, but do we know how much ‘battery’ our bodies have?”
In November 2017, the second-generation Oura Ring (Gen2) debuted at the Slush tech conference in Finland and began mass production in 2018. In October 2021, the Oura Ring Gen3 was launched, introducing a subscription service where users pay $5.99 per month or $69.99 per year to unlock deeper data insights. In October 2024, the Oura Ring 4 introduced the Oura Advisor AI assistant, converting collected data into more comprehensive health interpretations.
In May 2026, the Oura Ring 5 was officially released with a starting price of $399. The company redesigned the mechanical, electrical, optical, and battery structures from scratch. The new product is made of non-allergenic titanium alloy, measures 6.09mm (W) × 2.28mm (H), is 40% smaller in volume than the previous generation, weighs only about 2 grams, and typically lasts 6–9 days on a single charge, with IP68 dust and water resistance (up to 100 meters).
Petteri Lahtela
Initially, Oura was a niche product among Silicon Valley geeks, but in 2018, after Prince Harry was seen wearing one, sales skyrocketed tenfold overnight. Subsequently, celebrities like Jennifer Aniston, Gwyneth Paltrow, Cristiano Ronaldo, Mark Zuckerberg, and Eileen Gu began “influencing” the product, rapidly broadening its appeal. Notably, in 2020, the NBA purchased over 2,000 Oura Rings for distribution to players and staff during the restarted season.
As brand recognition grew, so did the company’s financial performance. In fiscal year 2024 (Oct 1, 2023–Sep 30, 2024), revenue was $407 million. In fiscal year 2025, revenue surged 123% to $908 million. For the nine months ending June 30, 2026, revenue further increased to $1.215 billion, up 74% year-over-year; net profit grew from $1.6 million to $60.8 million over the same period.
Looking at revenue structure, hardware remains Oura’s primary source. In the first nine months of fiscal 2026, hardware revenue reached $974 million, a 65% increase, accounting for 80% of total revenue. However, the subscription business is growing rapidly, with revenue jumping 121% to $240.5 million, raising its share from 16% to 20%. More critically, the subscription business boasts a gross margin of 89% (vs. 55% for the company overall), contributing approximately 32% of the company’s total gross profit.
In 2022, CEO Tom Hale redefined Oura as a “data and AI company” rather than a hardware vendor. As of June 30, 2026, the company had 5 million paid subscribers, with growth exceeding 100% year-over-year for seven consecutive quarters; 72% are female. The weighted average retention rate for paid subscribers over the past 12 months is approximately 85%. In Q3 FY2026, paid members wore the ring an average of 23 hours per day.
Conclusion
In fiscal year 2026, Oura is expected to reach nearly $2 billion in revenue. While it currently dominates the smart ring market, it is not without competition. Rivals include Ultrahuman, Circular, Noise, boAt, and Zepp.
Major players are also entering the field. In July 2024, Samsung launched the Galaxy Ring, integrating it with Samsung Health and Galaxy AI, without requiring a subscription fee. Apple has been filing numerous patents related to smart rings, covering health monitoring to cross-device gesture control.
Chinese companies are not sitting idle. Startups like Atom El, Xianzhi Technology, and Youaita Technology have emerged. Former Zealer founder and Gree VP Wang Zirou, along with former Xiaomi executive Wang Teng, have announced their entry into the smart ring industry.
Huami Technology launched the Amazfit Helio Ring in early 2024. Home appliance giant Dreame Technology also joined the race, unveiling the Glow smart ring at the AWE 2026 expo.
Huawei, though not launching its own ring, has entered the market via its Huawei Select brand using the HarmonyOS Connect ecosystem. Additionally, Xiaomi, Honor, and OPPO are reportedly developing their own smart rings. The sector is undoubtedly heating up.