The SmartTag 2 competes with the likes of Tile trackers and Apple AirTags. Like the existing SmartTags line, you can use SmartTag 2 only with Samsung Galaxy phones. It'll cost $30 in the US.

The SmartTag 2 has a "new compact size and ring-shaped design" and includes metal on the inside of the ring for increased resilience, according to Samsung. It also makes changes to battery life, with a new power saving mode and improved normal mode. Users can switch between the modes, with the SmartTag 2's battery lasting up to 700 days when using power saving mode -- more than twice as long as previous models -- and up to 500 days on normal mode, according to Samsung. 

The device also comes with an improved Compass View feature if you have an ultra-wideband-supported Galaxy smartphone. The feature provides arrows to show the direction and distance of the Galaxy SmartTag 2 in relation to the user, Samsung says. There are also upgrades to Samsung's SmartThings find app, which is built directly into phones and connects to SmartTags, such as a full screen map view and an intuitive interface.

The SmartTag 2 has Bluetooth Low Energy and ultra-wideband capabilities, similar to the SmartTag Plus. Samsung notes that to fully function, the SmartTag 2 needs to be paired with ultra-wideband-enabled Galaxy smartphones with Android 11 or higher.