The rush to develop the first quartz watch begins not long after WWII ends.Seiko produce one of the first quartz clock called Seiko Crystal Chronometer QC-951 and it was use in the 1964 Summer Olympics in Tokyo. Then Seiko and Longines unveil the first quartz pocket watch in 1966.In the late 1969, Seiko unveil the world’s first quartz watch called Astron.The Ebauches SA Beta 21 which is the first quartz analog watch develop by the Swiss was unveil to the public in 1970 at the Basel fair. In the same year Pulsar, the world’s first electronic digital watch was introduce by Hamilton Watch Company which was marketed in 1972. It comes in a 18-carat gold case.The all electronic digital watch was also the first to use a digital display illuminate by the LEDs. It was sold for about US2100/- which is equivalent to about US12,200 in 2015 US dollar value.
Omega Marine Chronometer the first watch ever to be certified as a Marine Chronometer was introduce by Omega in 1974.Omega Chrono-Quartz the world’s first analog/digital was introduce in 1976 and a year later, the first completely LCD chronograph wristwatch was introduce by the same company.
However the Swiss mechanical watch which dominated the world market did not anticipate the rise of the quartz watches. They never expect the quartz watches would gain momentum.
Many watch-making industries in other countries start to further develop the technology and started the mass production of quartz watches and made them affordable. The popularity of the quartz technology upset the economy of the Swiss watch industry resulted in a reduction in the size of the industry which see the drop of watch employment from about 90000 to 30000 between 1970 and 1988. The crisis reach a critical point in 1983. The Swiss watch industry, which had 1,600 watchmakers in 1970,declined to 600 by 1983.
Upon realizing that the crisis has reached a critical point, the Swiss research consortium, in order to revive the Swiss watch industry, they introduced the SWATCH.
The Swatch was sold in a sealed plastic case, sold as collectible items as well as a disposable commodity as it has only few moving parts. In less than two years almost three millions were sold.The Swatch achieve huge success and become the world largest watch manufacturer.