Oura, the Finnish smart ring manufacturer, is making its debut in India, challenging local competitors like Ultrahuman in a relatively nascent smart ring ecosystem that is becoming more sensitive to pricing due to a surge of affordable alternatives.

The Oura Ring 4 is priced starting at ₹28,900 (approximately $313) and going up to ₹39,900 (around $432), with an optional monthly subscription of ₹599 (about $6). In the United States, the same ring retails from $349 with a $5.99 subscription fee. In contrast, Ultrahuman offers the Ring Air for ₹28,499 (around $308), while its newly launched Ring Pro is priced at ₹42,990 (approximately $465).

According to IDC, India’s smart ring market is still modest, experiencing a 30.6% decline in shipments in 2025 compared to the previous year, and average selling prices fell by 8.7% to $159.7 as budget brands increase their market share.

This downturn illustrates the relatively immature nature of smart rings in India, where they remain a niche offering with limited consumer awareness and relatively high costs even with the introduction of lower-priced options, remarked Vikas Sharma, senior market analyst for wearable technology at IDC. The segment initially gained traction as a developing technology trend, yet that growth has not been sustained, he noted. Marketing efforts have also been subdued as most companies focus on larger markets.

The limited expansion of the category is further hampered by the lack of competition beyond a few key players, which means there is not a wider ecosystem to foster awareness and innovation, Sharma told TechCrunch.

Last year, Ultrahuman led the smart ring market in India with a 30.4% market share, followed by Gabit at 18.3%, as per IDC data.

Oura is presenting the Ring 4 as a high-end health device, merging hardware with a subscription service that offers tailored insights on sleep, activity, and recovery. This blend of product positioning and services differentiates Oura from many local competitors, who primarily focus on pricing.

The competition between Oura and Ultrahuman goes beyond Indian borders: Oura has taken legal action against Ultrahuman in the U.S., impacting the sales of the latter’s Ring Air in that market. The company based in Bengaluru stated that it has redesigned the new Ring Pro to navigate Oura’s patents and has sent it to U.S. Customs and Border Protection to verify its eligibility for legal import.

In conjunction with the launch, Oura published a report detailing sleep trends among its Indian user base, utilizing data gathered from October 2024 to September 2025. The study indicated that users averaged around six hours and 28 minutes of sleep nightly, below the recommended duration, and spent less time in crucial sleep stages than the global average.

These findings highlight both the potential and the difficulties in India: While there is growing consciousness of health and wellness, converting that awareness into demand for premium, subscription-driven devices in a cost-sensitive market is still uncertain.

The ability of this demand to grow will rely on an influx of brands entering the market and diversifying their pricing and positioning, Sharma stated.