Sanmina Corporation (Nasdaq: SANM) and Ouraring today announced they have signed an agreement for Sanmina to produce the first generation of the ŌURA ring, an advanced technology platform that combines a wearable device with a mobile app to measure sleep quality, activity and recovery for optimal performance. Sanmina is a leading provider of integrated manufacturing solutions, making some of the world’s most complex and innovative optical, electronic and mechanical products. Ouraring is a technology developer and innovator of advanced, smart wearable devices for health and wellness.
The ŌURA ring is worn on a person’s finger and includes a full-featured computer with sensors that access comprehensive physiological data to provide a long-term view on how the body and mind respond to sleep, rest and active life. Using an integrated chain of vital signs detection, built-in algorithms and science-based rules, the mobile app provides actionable recommendations to help people improve sleep quality, energy levels and performance.
“The ŌURA ring contains state-of-the-art miniaturized electronics, and Sanmina has provided substantial expertise in helping us prototype and bring this breakthrough technology to market efficiently and rapidly,” said Tommi Pyykönen, COO of Ouraring. “Sanmina’s close proximity to our R&D facility in Finland allows us to work with them every step of the way, enabling rapid product development. As we begin volume production, a service provider with the global scale, presence and extensive know-how of Sanmina ensures our ability to increase manufacturing volume and efficiency, and solidify our market entry and position.”
“Sanmina is proud to contribute to the production of Ouraring’s new smart wearable device,” said Dr. Sundar Kamath, Senior Vice President of Corporate Technology at Sanmina. “Products like the ŌURA ring help people improve the quality of sleep and their active life by applying microelectronics in innovative new ways. At Sanmina, it is truly gratifying to help companies like Ouraring bring new products to market by leveraging our expertise in miniaturization and manufacturing.”
Sanmina’s gateway facilities provide end-to-end solutions including PCB and system design, quick turn prototyping, product introduction, system integration and global order fulfillment. Sanmina’s engineers work with customers to design, test and validate products resulting in faster time to market and more robust products. Customers benefit from having Sanmina facilities nearby for engineering and product launch, along with a complete global footprint for manufacturing and logistics.
Sanmina Corporation is a leading integrated manufacturing solutions provider serving the fastest-growing segments of the global Electronics Manufacturing Services (EMS) market. Recognized as a technology leader, Sanmina provides end-to-end manufacturing solutions, delivering superior quality and support to Original Equipment Manufacturers (OEMs) primarily in the communications networks, computing and storage, defense and aerospace, industrial, medical, multimedia, automotive and clean technology sectors. Sanmina has facilities strategically located in key regions throughout the world.
Ouraring is at the forefront of developing technology for one of the fastest growing IOT segments—wearable devices. ŌURA is a wellness ring and app, designed to help the user get more restful sleep and perform better. It enables the user to learn how their lifestyle choices affect sleep, and how the quality of sleep affects their ability to perform.
Ouraring started a pre-order campaign in Kickstarter on August 18th. The ŌURA project became a Kickstarter staff pick within a few hours and 100% funding was achieved in less than 24 hours. “We are very happy with this successful campaign and look forward to starting product deliveries in November,” said Petteri Lahtela, CEO of Ouraring.
Sanmina Safe Harbor Statement
The foregoing, including the discussion regarding the Company’s future prospects, contains certain forward-looking statements that involve risks and uncertainties, including uncertainties associated with economic conditions in the electronics industry, particularly in the principal industry sectors served by the Company, changes in customer requirements and in the volume of sales principal customers, the ability of Sanmina to effectively assimilate acquired businesses and achieve the anticipated benefits of its acquisitions, and competition and technological change. The Company’s actual results of operations may differ significantly from those contemplated by such forward-looking statements as a result of these and other factors, including factors set forth in our Company’s Annual and quarterly reports filed with the Securities Exchange Commission.