Oura, the smart ring maker, postponed its initial public offering at the last minute this week, citing uncertainty in the market. Analysts were not convinced that was the whole story.
One principal analyst told CNBC he believed something else drove the decision, though he could not pin down what. The delay lands as AI wearables struggle to convince buyers they are worth the trouble.
Glasses, rings, charms and pendants are the new battleground. Meta keeps shipping versions of its camera-equipped Ray-Ban frames and recently introduced the Muse Charm, a housing for its agent app. OpenAI rolled out an assistant called Dots, and Apple has added listening features to its Watch.
Privacy is the drag. Meta’s spectacles have been nicknamed for their discreet cameras, and wearers describe being filmed without consent. Analyst Gil Luria calls the resistance to camera glasses hard to overcome. Some gyms and venues now bar them.
Earlier gadgets show how unforgiving the category is. The Humane AI Pin was discontinued after poor reviews, and the Rabbit r1 never found a reason to exist next to a phone. Health tracking keeps working; everything flashier keeps stalling.
