The Quartz Crisis, also known as the Quartz Revolution is a term used in the watchmaking industry to refer to the economic upheavals caused by the advent of quartz watches in the 1970s and early 1980s, which largely replaced mechanical watches. It caused a decline of the Swiss watchmaking industry, which chose to remain focused on traditional mechanical watches, while the majority of world watch production shifted to Asian companies who embraced the new technology.
Read more about Quartz Crisis: Swiss Hegemony, Technological Revolution, The Rise of Quartz in The 1970s, The Renaissance and The Swatch
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“When you give power to an executive you do not know who will be filling that position when the time of crisis comes.”
—Ernest Hemingway (1899–1961)