Designers out there are constantly trying to improve on existing products, and that’s always good news for the consumer. Next up is the Ring Socket concept that is designed to feature a built-in timer. Instead of leaving your electronics on all the time, this socket allows you to set the timer for a pre-determined hour and when the time is up, the socket shuts itself off, helping you skimp on the electricity bills and winning the favor of Mother Nature. Aside from acting as a timer, the socket features indicator LEDs to inform you of what’s going on. A green LED means that it’s on standby; a yellow LED means that it’s in use; a red LED indicates that the socket is overloaded (and you’d better do something about it).