👉 Background: Samsung is the South Korean tech giant and the world's largest producer of memory chips, smartphones, and TVs. But the company’s also dabbled in more niche products like skin care devices, military tanks, and even their own theme park.

👉 What happened: Now, Samsung has just announced brand new health-tracking devices, the Galaxy Ultra Watch and the Galaxy Ring designed to track sleep patterns, heart rate and send fitness reminders to its users which syncs with your phone to show the data.

👉 What else: This marks Samsung’s biggest step into the wellness, and more specifically, longevity industry.

What's the key learning?

💡Unlocking the secrets to a longer, healthier life has become big business for tech companies. Interest in longevity, and healthy living has been really popping off as global populations are ageing.

💡As a result, there’s also been a lot of interest in monetising this trend. In fact, last year, the longevity industry was valued at $27 billion USD and is expected to grow to $44 billion USD by 2031.

💡Other companies like Oura and Whoop have already cashed in on this trend with wearable health trackers. Today, these companies are valued at $2.5 billion USD and $3.6 billion USD respectively. Now, Samsung’s the latest player to make strides in this industry, but it’s safe to say it won’t be the last.