The Up Move, the latest fitness tracker by Jawbone, is available for preorder as of Wednesday and will launch on Friday, selling for just $50. Its introduction to the market indicates that companies are starting to see the value in budget fitness devices.

Like many fitness trackers, the Up Move allows users to track steps, exercise and calories burned; but in an interesting twist, it can also track information about users' sleep patterns. “Easily track hours slept a quality sleep. Smart Coach learns your habits and then gives you personalized suggestions to get you to bed on time,” says the Jawbone Web page.

Up Move syncs with the Jawbone mobile app, compatible with iOS and Android devices, where fitness data is saved. The Smart Coach feature on the app gives users detailed analysis of their diet and activity and sleep patterns.

The Up Move is a clip-on device, intended to simplify how it is worn. However, users can purchase wrist straps for $15.

But Jawbone hasn't abandoned the pricey fitness tracker market. The company’s Up3 high-end fitness tracker will launch later this year for $180. In addition to the standard health metrics, the Up3 also includes advanced sensors such as a tri-axis accelerometer, bio-impedance sensors, skin temperature sensor, and ambient temperature sensors. The sleep tracker on the Up3 also gives details about the different sleep stages like REM, light sleep and deep sleep. Its advanced activity is able to pinpoint the type of activity being performed, and can determine whether a user is running, cross-training or playing tennis, for example.

Jawbone has said that some users wear its Up brand devices for up to 23 hours a day.