After the huge success of Apple Watch, the iPhone maker is apparently keen to tighten its grip on the wearable market in the coming years. Business Insider Australia reports the Cupertino based consumer electronics manufacturer has filed a patent for a ring-based computing device. Dubbed Apple Ring, the ring computing device is purported to be functionally similar to Apple Watch. 

The Apple Ring will pack a mounted touchscreen, a processor chip, wireless transceiver and a minuscule rechargeable battery. The patent document reads the Apple Ring will feature all the specialities of Apple Watch and it might be considered as the biggest Smartwatch substitute in the coming days.

The ring can be worn on the index finger of either hands so that it can be easily operated with the thumb, similar to the Apple Watch.

The Apple Ring will come in 2 design elements - a rectangular shaped ring with a bigger touchscreen and a round one. The ring will come with 3D Touch, which has been introduced with the latest smartphones iPhone 6S and iPhone 6S Plus. Additionally, the Apple Ring will also come up with Siri for performing voice controlled operations.

The ring can be used to operate several Apple made devices including iPhone, Apple TV, smart home devices or car entertainment systems including CarPlay.

For connectivity reasons, the Apple Ring will feature Wi-Fi, Cellular network, Bluetooth and NFC. It will also come up with biometric sensors for monitoring users heart rate. The most amazing feature of the Apple Ring would be the ability to use Apple Pay for transactions through NFC or Siri voice commands for payment.