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Quartz Crisis refers to the period from the late 1960s to the 1980s when quartz watches, introduced by Seiko, revolutionized the global horology industry. This event shook the Swiss watch industry’s position, which had previously dominated the market with intricate and expensive handmade mechanical watches.
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In 1969, Seiko, a Japanese watch company, introduced the Seiko Astron, the world’s first quartz watch. This technology replaced mechanical mechanisms with a quartz crystal powered by a battery. The quartz crystal generated vibrations at an extremely stable frequency, providing far greater time accuracy than conventional mechanical watches.
The advantages of quartz watches included:
Before the Quartz Crisis, the Swiss watch industry dominated the global market, controlling more than 50% of the worldwide watch market. Brands like Rolex, Omega, and Patek Philippe were leaders in horological technology and style. However, with the emergence of quartz watches, many consumers began to shift toward more affordable and accurate alternatives, causing a drastic drop in demand for Swiss mechanical watches.
As a result:
Amid the crisis, Switzerland took several measures to rescue its horology industry. One of the most significant steps was the formation of the Swatch Group, established by Swiss horology expert Nicolas Hayek in 1983.
After enduring the Quartz Crisis, the watch industry underwent significant changes. Quartz technology paved the way for mass production of watches, allowing people worldwide access to affordable timepieces. On the other hand, the remaining Swiss brands maintained their positions by focusing on quality, innovation, and the cultural heritage of mechanical watches.
The Quartz Crisis demonstrated that technological change could cause major upheaval in an industry but also create new opportunities. For the world of horology, this crisis enriched the diversity of choices in the watch market—from functional and affordable quartz watches to luxurious mechanical timepieces rich in historical value.