The Japanese revolution
The first quartz watch was created in 1969 by Japanese manufacturer Seiko. Known as the Astron, this watch was a gold-case limited-edition style with quartz movement technology. It was slick and convenient--but prohibitively expensive. The Astron cost roughly the same as a small car at the time. Therefore, it didn’t instantly set the watch industry on fire.
Japan took the lead in the watch world, leaving Switzerland, a nation so synonymous with watching making that mechanical watches constituted its third largest international export industry, in dire straits. By the early 1980s, the industry was forever altered.
Quartz wasn't an overnight sensation
The quartz movement started to take off in the 1970s with the invention of digital watches. Featuring LCD or LED screens, these new movements featured no moving parts at all and provided a bold, illuminated, and easy-to-read face.
Technology and economies of scale play their part
Eventually, manufacturing technology improved, and prices dropped, which in turn made quartz movements the oscillator of choice in analog watches for most consumers. The opportunity to wear a watch was transformed by the profound reduction in price made possible by quartz movements. Once a status symbol requiring a small fortune, watches became casual accessories that anyone could afford.
A Swiss disaster averted
A consortium of Swiss banks was forced to bail out that nation’s watch manufacturers after demand for mechanical movements plunged seemingly overnight. Ultimately, though, the story of Swiss watchmaking has a happy ending; the ubiquitous Swatch watch was created in direct response to the “quartz crisis” and put Switzerland back on top.