Misfit has launched a new smartwatch called Flash that brings premium fitness tracking features in an affordable package. With the growing range of premium smartwatches like Moto 360, LG G Watch R, Samsung Gear Live, Apple Watch and more, it is hard to find a suitable smartwatch that does not drill a hole in the pockets. Low-cost devices come at the cost of compromise in features but Misfit is looking to change that concept with Flash.

Misfit Flash is more of a fitness tracker than a complete smartwatch, complete with features like tracking the number of burnt calories, steps taken and the quality and quantity of sleep. It sports a sleek design with half of lights outlining the round-face dial that tells the time and shows progress towards daily goals, PC World reports. The Flash is made out of plastic instead of aluminum to keep the cost of the device as low as $50, which makes it a worthy buy for the named features.

Despite the cheap plastic material, Misfit Flash gives a soft and a comfortable feel. According to the company's official press release, the wearable syncs with any Android or  iOS smartphone to display details of the tracked activities. Misfit has packed some key elements in the watch to attract consumers like a six-month replaceable battery, water resistance up to 30 meters and the ability to wear it multiple ways like a watch or a clip-on to the waist, show, keychain and pocket. The clip-on is sold separately.

The pricing of the Misfit Flash makes it even more appealing to those who want to kick start their wearable experience. The gadget will hit the stores next month through various retailers, including Best Buy, Wal-Mart and Amazon. Available in seven flashy hues, the Misfit Flash can be pre-ordered from the company's official online store.

The Flash is compatible with iPhones, iPods and iPads running iOS 6.1.3 and higher as well as Android smartphones running the Jelly Bean version or above.