The impact of the quartz crisis on the Swiss watch industry

The quartz crisis had a profound impact on the Swiss watch industry in the 1970s. The introduction of quartz movements, which could be produced more precisely and more cheaply than mechanical watches, plunged the traditional Swiss watch industry into a severe crisis.

Many companies that specialized in the production of mechanical watches went bankrupt or were bought up by larger companies. The number of workers employed in the watch industry also fell rapidly.

The crisis forced the remaining watch manufacturers to adapt their production methods and business models. Many began to produce quartz watches in order to remain competitive. Others focused on the production of luxury mechanical watches aimed at a niche of customers who were willing to pay more for quality and precision.

Thanks to these adaptations, the Swiss watch industry has survived and is now stronger than ever. The production of quartz watches has stabilized and many companies have successfully specialized in the production of high-quality mechanical watches. They have also invested in the research and development of new technologies to further improve their products.

Today, the Swiss watch industry is an important sector of the country's economy and a symbol of Swiss precision and quality. Although the quartz crisis in the 1970s was a heavy burden, the Swiss watch industry has