Samsung Electronics Co Ltd (OTC:SSNLF) is stepping up its competition with Apple Inc. (NASDAQ:AAPL) in the wearables market by launching a smart ring and a new high-end wearable similar to the Apple Watch Ultra.

At its Unpacked event in Paris, Samsung introduced the long-anticipated Galaxy Ring, priced at $400, which tracks fitness, sleep, and women's menstrual cycles, and lasts up to a week on a single charge.

In addition to the Galaxy Ring, Samsung unveiled the Galaxy Watch Ultra, a $650 titanium wearable with features like sleep apnea detection and a two-day battery life, reported Bloomberg.

This launch reflects Samsung's push into the premium health gadget segment, where it competes with Apple and smaller companies like Oura Health Oy, the maker of the Oura ring.

Samsung's move into the high-end health gadget market shows its effort to build an Apple-like ecosystem of complementary products.

Also Read: Samsung Unveils Phones With Gemini AI Integration, But Hikes Prices: Will Customers Budge?

The Galaxy Ring, available in nine sizes, includes fitting kits and does not require a subscription, which differentiates it from the cheaper Oura ring.

The Galaxy Watch Ultra offers features such as heart rate monitoring, dual GPS bands, and a faster processor.

Samsung aims to expand the market by leveraging its vast distribution and marketing reach. The Galaxy Ring and Galaxy Watch Ultra will test consumer willingness to invest in premium health and wellness gadgets.

Samsung's new devices are launched ahead of the expected release of new Pixel Watches from Alphabet Inc. (NASDAQ:GOOGL) in August and Apple's new watches in September.

Read Next:

• Samsung Workers Walk Out, Demand Pay Raise and Leave: Report

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo via Samsung