Apple filed a patent for a "smart ring" on Thursday, a wearable device that will be smaller than the Apple Watch if the product is actually developed, according to CNBC. The patent describes the ring as being able to connect to larger devices, such as tablets and iPhones, and could be designed with or without a touchscreen display.

Many of the features proposed for the smart ring are already designed into the Apple Watch - this includes a built-in microphone, biometric motion sensors, a camera and a small display, according to CNET. For rings developed with a display, Apple plans to design them to be worn on the index finger and controlled with the thumb.

The patent also outlined unique features that would take advantage of the biometric motion sensors, such as making a fist or extending or curling your finger to trigger certain commands.

One of Apple's reasons for setting its sights on the smart ring market is the failure of many smartphones in areas that smart rings could improve upon, according to The Verge.

"The light emitted by a touchscreen may be inappropriate in certain social environments or even dangerous if it gives away the position of a threatened user," Apple said in the patent. "A need therefore exists for a more discreet, safer, more efficient, or more ergonomic way to interact with touch pads or touch screens."

Many of Apple's previous patent applications have never actually made it into the development stage, and Apple has yet to comment on its plans to sell a smart ring, leaving its future uncertain as of now.