What significant event in watchmaking occurred in 1978?

The significant event in watchmaking that occurred in 1978 is the advent of the quartz crisis. This period marked a major shift in the watch industry, primarily characterized by the surge of quartz technology, which drastically changed the landscape of timekeeping. The introduction of quartz movements allowed watches to become more accurate, affordable, and easier to produce than traditional mechanical movements.

By 1978, many traditional Swiss watch manufacturers were beginning to realize the impact of this technology, as quartz watches were becoming increasingly popular among consumers, leading to a decline in demand for mechanical watches. This crisis prompted a reevaluation of production methods, marketing strategies, and the very identity of watchmaking, particularly in Switzerland, which had long been synonymous with high-quality mechanical watches. The quartz crisis not only reshaped companies' approaches to manufacturing but also influenced the way watches were perceived globally, moving towards a more accessible and functional model of timekeeping.