LISBON — Apple will not introduce a smart ring, the CEO of health-tech firm Oura told CNBC, despite speculation the iPhone giant may be considering a move into this product category.

Samsung’s smart ring debut earlier this year has put the product firmly in the spotlight, with one analyst predicting earlier this year that Apple could launch its own smart ring in 2026.

But Tom Hale, CEO of Oura — which has been developing smart rings since the company was established in 2013 — said he doesn’t think Apple will enter the space.

“I think they [Apple] are unconvinced about the value of having a ring and a watch together and they’re not interested in undercutting the Apple Watch as a business,” Hale told CNBC in an interview on Tuesday at the Web Summit in Lisbon, Portugal.

“I think they’re probably keeping a close eye on Samsung and a close eye on us, but it’s hard to do this product category right.”

Under CEO Tim Cook, Apple has put a large focus on health applications through the Apple Watch and related services.

A smart ring is a type of wearable device full of sensors that can give the wearer information about things like their health, activity and sleep. They are lightweight and have a long battery life which fans say make them ideal for wearing all day, including when sleeping, versus a smartwatch that may be less comfortable and so removed more often.

“Apple is very much a focused company. They’re like: ‘We’ve put our bet on the watch. We’re gonna make the watch our platform,'” Hale said.

Oura recently launched its next-generation Oura Ring 4 as competition in the wearable sector ramps up.