So, why would existing smartwatch owners bother you might wonder?
Well, first off battery: while most popular smartwatches struggle to last beyond a day or two, Samsung claims the Galaxy Ring can keep going for up to seven days on a single charge.
The other supposed benefit is comfort - people tend to take their smartwatches off at night so a smart ring makes it more practical to track sleep.
The Sun got a very quick, early hands-on with the Samsung Galaxy Ring ahead of the big launch event...
I'm a little conflicted about this - on the one hand, light is great for comfort but on the other hand a bit of weight gives you reassurance it's strong.
Samsung will post out a sizing kit when you order a Galaxy Ring which is shipped first - you can then find the best fit, confirm it with Samsung and finally receive your Ring.
A size 12 was the best fit for my index finger which puts me at the top end of the ring sizes available.
The Galaxy Watch comes in a titanium frame with the option of three colours: Titanium Black, Titanium Silver and Titanium Gold.
I'm instantly drawn to the sleek silver which looks like any other ring on my hand (which I believe is a good thing by the way).
Samsung Galaxy Ring: Key facts
Available in nine sizes
Three colours: black, gold and silver
Works with Android smartphones and not iPhone
Titanium grade 5
IP68 rating - protected from water and dust
Battery lasts up to seven days off a single charge
No subscription to access data required
Costs £399 / $399
However, I do find myself wondering again just how durable it is as I don't get that reassuring tough feel.
Samsung's support website says you should "remove your Ring when lifting or handling heavy, hard objects".
It also notes: "Nicks and scratches can occur if you are not careful while wearing your ring, even during everyday activities. As these are not covered by the warranty, please handle your ring with care."
Along the inside you'll see some of the internal components and there are a number of tiny bumps which are actually sensor lights.
When wearing the Galaxy Ring it does feel comfortable and instantly a lot less intrusive compared to a smartwatch.
But to really assess comfort I need to take it for a prolonged spin, which I will do in a full review soon.
That also goes for the most important bit, the health features, which is the Galaxy Ring's raison d'etre.
But based purely on look and feel, I do enjoy what I see and relish the chance to use my smartwatch less.
I'm also excited to try the non-health related features, such as the ability to double pinch and dismiss your alarm (potentially dangerous too...) and to double pinch to take photos as well.