New rumors from an insider on X suggest that Apple is in the early stages of developing a smart ring, potentially named the iRing, although the company may choose a different branding such as Apple Ring.
Details are scarce at this point, but it appears the project is actively progressing. In addition to the smart ring, Apple has recently been linked to projects involving smart glasses, a pendant, and AirPods Pro featuring cameras aimed at enhancing AI functionality. This indicates Apple’s intention to broaden its lineup of smart wearable devices.

The development of a smart ring positions Apple to compete in a growing market, facing off against products such as Samsung's Galaxy Ring, the Oura Ring 5, and Ultrahuman's Ring Air, which is currently available at a discount through select promotions.
