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Quartz Crisis
The quartz crisis was the upheaval in the watchmaking industry caused by the advent of quartz watches in the 1970s and early 1980s, that largely replaced mechanical watches around the world.Smithsonian: The quartz revolution revitalized the U.S. watch industry.
It caused a significant decline of the Swiss watchmaking industry, which chose to remain focused on traditional mechanical watches, while the majority of the world's watch production shifted to Japanese companies such as ,
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Seiko 35A
, commonly known as Seiko ( , ), is a Japanese maker of watches, clocks, electronic devices, semiconductors, jewelry, and optical products. Founded in 1881 by Kintarō Hattori in Tokyo, Seiko introduced one of the first quartz watches and the first quartz watch with a chronograph complication. Seiko was a wristwatch manufacturer for Japanese soldiers during World War II. History 1881 founding to 1929 In 1881, Seiko founder Kintarō Hattori opened a watch and jewelry shop called "K. Hattori" () in Tokyo. Kintarō Hattori had been working as clockmaker apprentice since the age of 13, with multiple stints in different watch shops, such as “Kobayashi Clock Shop”, ran by an expert technician named Seijiro Sakurai; “Kameda Clock Shop” in Nihonbashi; and “Sakata Clock Shop” in Ueno, where he learned how to both sell and repair timepieces. Around the time of Seiko's founding, watchmakers in Tokyo, Osaka, and Nagoya were studying and producing pocket watches based on Wes ...
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Joint Venture
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and economic risk, risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to access a new market, particularly Emerging market; to gain scale efficiencies by combining assets and operations; to share risk for major investments or projects; or to access skills and capabilities. According to Gerard Baynham of Water Street Partners, there has been much negative press about joint ventures, but objective data indicate that they may actually outperform wholly owned and controlled affiliates. He writes, "A different narrative emerged from our recent analysis of U.S. Department of Commerce (DOC) data, collected from more than 20,000 entities. According to the DOC data, foreign joint ventures of U.S. companies realized a 5.5 percent average return on assets (ROA), while those companies’ wholly owned and controlle ...
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Piaget SA
Piaget SA () is a Swiss luxury watchmaker and jeweller. Founded in 1874 by Georges Piaget in the village of La Côte-aux-Fées, Piaget is currently a subsidiary of the Swiss Richemont group. Piaget was founded as a manufacturer of watch movements but began marketing its own line of watches in the 20th century. History Origins In 1874, Georges Edouard Piaget set up his first workshop on the family farm, situated in the small village of La Côte-aux-Fées in the Swiss Jura mountains. Situated in the Neuchâtel region, the company was dedicated to crafting pocket watches and high-precision clock movements. In 1911, Timothée Piaget, the son of Georges Piaget, took over the family firm. The company's policy has been to be dedicated to the production of wristwatches ever since. Registered Trademark Under the guidance of the founder's grandsons, Gérald and Valentin Piaget, the Piaget brand became a registered trademark in 1943. Since then, the manufacture at La Côte-aux ...
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Patek Philippe SA
Patek Philippe SA is a Swiss luxury watch and clock manufacturer, located in the Canton of Geneva and the Vallée de Joux. Established in 1839, it is named after two of its founders, Antoni Patek and Adrien Philippe. Since 1932, the company has been owned by the Stern family in Switzerland and remains the last family-owned independent watch manufacturer in Geneva. Patek Philippe is one of the oldest watch manufacturers in the world with an uninterrupted watchmaking history since its founding. It designs and manufactures timepieces as well as movements, including some of the most complicated mechanical watches. The company maintains over 400 retail locations globally and over a dozen distribution centers across Asia, Europe, North America, and Oceania. In 2001, it opened the Patek Philippe Museum in Geneva. Patek Philippe is widely considered to be one of the most prestigious watch manufacturers in the world. Over the years, notable Patek Philippe patrons and timepiece owners inc ...
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Global Market
In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the prices of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society. Markets allow any tradeable item to be evaluated and priced. A market emerges more or less spontaneously or may be constructed deliberately by human interaction in order to enable the exchange of rights (cf. ownership) of services and goods. Markets generally supplant gift economies and are often held in place through rules and customs, such as a booth fee, competitive pricing, and source of goods for sale (local produce or stock registration). Markets can diff ...
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Bulova
Bulova is an American timepiece manufacturing company that was founded in 1875 and has been owned by Japanese multinational conglomerate Citizen Watch Co. since 2008. The company makes watches, clocks and accessories, and it is based in New York City. History Founding Bulova was founded and incorporated as the J. Bulova Company in 1875 by Bohemian immigrant Joseph Bulova. It was reincorporated under the name Bulova Watch Company in 1923, and became part of the Loews Corporation in 1979 and sold to Citizen at the end of 2007. In 1912, Joseph Bulova launched his first plant dedicated entirely to the production of watches. Manufacturing watches at their factory in Biel (Switzerland), he began a standardized mass production new to watchmaking. In 1919, Bulova offered the first complete range of watches for women and men in 1924. The visual style of his first popular advertising made its watches popular with the American public. But beyond the original style, precision and techno ...
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Accutron
Bulova is an American timepiece manufacturing company that was founded in 1875 and has been owned by Japanese multinational conglomerate Citizen Watch Co. since 2008. The company makes watches, clocks and accessories, and it is based in New York City. History Founding Bulova was founded and incorporated as the J. Bulova Company in 1875 by Bohemian immigrant Joseph Bulova. It was reincorporated under the name Bulova Watch Company in 1923, and became part of the Loews Corporation in 1979 and sold to Citizen at the end of 2007. In 1912, Joseph Bulova launched his first plant dedicated entirely to the production of watches. Manufacturing watches at their factory in Biel (Switzerland), he began a standardized mass production new to watchmaking. In 1919, Bulova offered the first complete range of watches for women and men in 1924. The visual style of his first popular advertising made its watches popular with the American public. But beyond the original style, precision and techn ...
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Gear Train
A gear train is a mechanical system formed by mounting gears on a frame so the teeth of the gears engage. Gear teeth are designed to ensure the pitch circles of engaging gears roll on each other without slipping, providing a smooth transmission of rotation from one gear to the next. Features of gears and gear trains include: * The gear ratio of the pitch circles of mating gears defines the speed ratio and the mechanical advantage of the gear set. * A planetary gear train provides high gear reduction in a compact package. * It is possible to design gear teeth for gears that are non-circular, yet still transmit torque smoothly. * The speed ratios of chain and belt drives are computed in the same way as gear ratios. See bicycle gearing. The transmission of rotation between contacting toothed wheels can be traced back to the Antikythera mechanism of Greece and the south-pointing chariot of China. Illustrations by the Renaissance scientist Georgius Agricola show gear trains wi ...
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Hertz
The hertz (symbol: Hz) is the unit of frequency in the International System of Units (SI), equivalent to one event (or cycle) per second. The hertz is an SI derived unit whose expression in terms of SI base units is s−1, meaning that one hertz is the reciprocal of one second. It is named after Heinrich Rudolf Hertz (1857–1894), the first person to provide conclusive proof of the existence of electromagnetic waves. Hertz are commonly expressed in multiples: kilohertz (kHz), megahertz (MHz), gigahertz (GHz), terahertz (THz). Some of the unit's most common uses are in the description of periodic waveforms and musical tones, particularly those used in radio- and audio-related applications. It is also used to describe the clock speeds at which computers and other electronics are driven. The units are sometimes also used as a representation of the energy of a photon, via the Planck relation ''E'' = ''hν'', where ''E'' is the photon's energy, ''ν'' is its f ...
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Resonate
Resonance describes the phenomenon of increased amplitude that occurs when the frequency of an applied periodic force (or a Fourier component of it) is equal or close to a natural frequency of the system on which it acts. When an oscillating force is applied at a resonant frequency of a dynamic system, the system will oscillate at a higher amplitude than when the same force is applied at other, non-resonant frequencies. Frequencies at which the response amplitude is a relative maximum are also known as resonant frequencies or resonance frequencies of the system. Small periodic forces that are near a resonant frequency of the system have the ability to produce large amplitude oscillations in the system due to the storage of vibrational energy. Resonance phenomena occur with all types of vibrations or waves: there is mechanical resonance, orbital resonance, acoustic resonance, electromagnetic resonance, nuclear magnetic resonance (NMR), electron spin resonance (ESR) and ...
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Tuning Fork
A tuning fork is an acoustic resonator in the form of a two-pronged fork with the prongs ( tines) formed from a U-shaped bar of elastic metal (usually steel). It resonates at a specific constant pitch when set vibrating by striking it against a surface or with an object, and emits a pure musical tone once the high overtones fade out. A tuning fork's pitch depends on the length and mass of the two prongs. They are traditional sources of standard pitch for tuning musical instruments. The tuning fork was invented in 1711 by British musician John Shore, sergeant trumpeter and lutenist to the royal court. Description A tuning fork is a fork-shaped acoustic resonator used in many applications to produce a fixed tone. The main reason for using the fork shape is that, unlike many other types of resonators, it produces a very pure tone, with most of the vibrational energy at the fundamental frequency. The reason for this is that the frequency of the first overtone is about = = ...
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Wristwatch
A watch is a portable timepiece intended to be carried or worn by a person. It is designed to keep a consistent movement despite the motions caused by the person's activities. A wristwatch is designed to be worn around the wrist, attached by a watch strap or other type of bracelet, including metal bands, leather straps or any other kind of bracelet. A pocket watch is designed for a person to carry in a pocket, often attached to a chain. Watches were developed in the 17th century from spring-powered clocks, which appeared as early as the 14th century. During most of its history the watch was a mechanical device, driven by clockwork, powered by winding a mainspring, and keeping time with an oscillating balance wheel. These are called '' mechanical watches''. In the 1960s the electronic ''quartz watch'' was invented, which was powered by a battery and kept time with a vibrating quartz crystal. By the 1980s the quartz watch had taken over most of the market from the mech ...
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