Disruptive Innovation and the Swiss watch industry

The Swiss watch industry faced disruption in the 1970s with the rise of digital watches from Japanese companies like Seiko and Casio. Over 1000 Swiss watch manufacturers went out of business as digital watches became more affordable and popular. However, some Swiss companies survived by focusing on mechanical watches, marketing, and positioning their products as luxury goods. The Swiss watch industry rebounded and regained its leading position by the 1990s due to these strategies of emphasizing tradition, craftsmanship, and high-end mechanical watches. James Bond films played a role by featuring both digital and mechanical watches at different stages of the industry's evolution.