Watch industry prior to 1950s

Watch industry prior to 1950s was concentrated in a very small region in Europe i.e. Switzerland.
On account of having expertise in jewellery making, swiss were dexterous craftsmen who knew
how to work around meticulously crafted mechanical components that needed to be assembled
with great care and precision. Mimicking is the stature of a jewel; these were considered to be
financial investments and their customers treated them as a social symbol rather than for their
core functionalities.
They were generally sold at upscale department stores or along with their close relatives in
jewellery shops. Swiss watches became the paradigm of watches in general and Switzerland
became the abode of "good" and high-quality watchmakers. Unsurprisingly, by 1945, close to 2500
odd Swiss watchmakers were responsible for the 80% of world's total watch production and 99%
of overall US imports.