The world markets overridden the mechanical watch industry. The nationwide persona of the Swiss was their excellence in watchmaking. With Switzerland's position of market power and a nationwide watch commerce coordinated to foster mechanical watches, the Swiss considered that electrical devices watches were unnecessary. However, other ones outside of Switzerland glimpsed the advantages and developed the technology. By 1978 quartz watches took over the mechanical watch industry. The attractiveness of these timepieces fell the Swiss commerce into a crisis. When this happened, it strengthened both the American and Japanese industries. This time period was marked by the lack of innovation in Switzerland and at the identical time other commerce in other nations were taking full advantage of the appearing technologies, especially quartz technology, therefore the period Quartz Crisis.
Many one time money-making and famous Swiss watch houses became insolvent and/or disappeared. This completely distressed the Swiss commerce both economically and psychologically. In the 1970's and early 1980's, technological upheavals of the appearance of the quartz technology and a tough economic situation produced in the decrease in the size of the Swiss Industry. Employment fell from 90,000 to 28,000 from 1970 to 1988.By the 1960's American companies had gone out of business and were bought out by foreign interests. This crisis is mentioned to as the Quartz revolution. Due to microelectronics research for infantry and space programs, the United States took a technological lead in the making of the first quartz watch.With the exclusion of Timex, residual customary American watch companies went out of business and sold their emblem name to foreign competitors.
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