Fitbit's answer to the Apple Watch, Blaze, has failed to impress investors, with share prices down more than 18% as the market closed yesterday.

Blaze, which is designed to look like a more stylish and sophisticated alternative to Fitbit's existing wristbands like Surge and Flex, has been developed to help the company carve into the growing smartwatch market.

However, the sharp drop suggests investors were not sold on Fitbit's chances of rivalling existing players like Apple and Samsung.

The new device is now available on pre-order priced at £159.99. It has a colour touchscreen and can track heart rate and show workouts on screen.

While it doesn't have in-built GPS to track running routes, it can be connected to a smartphone. It also has removable straps to enable users to personalise the design.