Misfit, the wearable devices company behind the previously released Shine, has introduced a new fitness and sleep tracker that costs less than many on the market, yet remains fully featured.

The Misfit Flash costs a penny shy of £50 and, like the Shine, can be worn anywhere. It comes in the shape of a small disc so can attach to a shirt, shoes, lapel, keychain or can be worn on the wrist via a strap accessory.

It syncs with both iOS and Android devices and is able to track steps, distance, sleep quality and duration. It is also suitable for both cycling and swimming, thanks to the fact that the Flash unit is waterproof to 30 metres.

Like the company's Shine product, the new Flash tracker does not require charging. It can also tell how far a user has completed a goal by the lights on the front.

The Misfit Flash will be available from mid-November in Currys and PC World stores.

"Flash is the only fully featured activity and sleep tracker in the world for under £50, making it incredible value," said Tim Golnik, vice president of product and design at Misfit.

The device will be available in seven different colours, including a lemon-lime "Zest", "Fuschia" and "Frost".