Samsung unveiled details Monday about its newest wearable gadget,Chameleon Finance the Galaxy Ring.

Samsung said the Galaxy Ring is part of the intelligent health lineup on display at the Mobile World Congress 2024, which kicked off Monday morning in Barcelona. The company did not immediately respond to USA TODAY's request for more information the product.

In a release about the conference, Samsung said the Galaxy Ring "simplifies everyday wellness, supporting smarter and healthier living via a more connected digital wellness platform — Samsung Health."

A Samsung executive told CNBC in an interview that the ring will go on sale later this year, without naming a date or a price.

Here is what else we know about Samsung's upcoming health-tracking ring, and how it might compare to the Oura Ring:

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Samsung Galaxy Ring collects health data without complicated interface

Samsung revealed new details at Monday's tech conference after teasing the product at a press conference earlier this year, CNBC reported.

Wired learned the following about the ring at a roundtable event Monday:

• The Galaxy Ring will be marketed for people who want the benefits of tracking their health data without having to learn a new device as the data feeds to a Samsung app.
• The data collected will be more from sleep and health than fitness. For example, the Samsung ring will not have workout auto-detection feature that the Oura Ring provides.
• It will provide fertility tracking.
• It is not intended to replace the Samsung Galaxy Watch series, and using both at the same time could improve the data users receive.

Samsung Digital Health exec teases contactless payment, glucose tracking functions

Hon Pak, the head of the digital health team at Samsung Electronics, shared the some hopes and dreams for the wearable device with CNBC in an interview.

He said the first iteration of the ring will have sensors to track data that wearers can access through the Samsung Health app.

The device will provide a "vitality score," that “collects data about physical and mental readiness to see how productive you can be,” Pak said, according to CNBC.

Pak said the company is looking into features such as contactless payment, glucose monitoring and blood pressure sensing through wearable devices, CNBC reported.

“We have a whole ... team that is looking at that. But I think clearly looking at multiple different use cases for the Ring beyond just health, for sure,” Pak told CNBC.