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China, meanwhile, continued to limp along. It should soon move out of the red, the FH noted, a statement that would have been unthinkable two years ago. The mood at Baselworld, like business generally, was fine, although there were few surprises on the product front.
There was, however, one notable new development. For the first time since the global financial crisis of , some watch brands are making efforts to introduce new products at lower prices.
With the bloom off the China rose, luxurywatch demand has fallen and pressure on watch prices has eased. The Swiss Exhibitors Committee, in a show-recap press release, cited a trend among prestige brands to include affordable styles in their collections that will appeal to emerging markets fast-growing middle This year the show is dominated by presentations of lower-priced product.
You see it with many brands.
Because the people in the higher end are stagnating. The brands need better entry-level prices. Mller noted, The times of substantial price increases seem to be over for now.
Examples of affordable pricing appeared up and down the watch-price pyramid. So it went. As noted, there was no dramatic new product trend.
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As a result of this success shareholders in the following December voted to rename the company to United States Time Corporation. United States Time Corporation President Lehmkuhl was convinced that an inexpensive watch that was both accurate and durable would be a marketing success.
He felt that low cost could be accomplished through the combination of automation, precision tooling techniques used in making fuse timers, and a simpler design than that of higher-priced Swiss watches.
Durability was accomplished through a new hard alloy, Armalloy, developed through wartime research. Armalloy was used to produce long wearing bearings, replacing the expensive jewels traditionally used in a watch's movement.
Time's technological expertise and innovation". Slogan: World's largest manufacturer of watches and mechanical time fuses[ edit ] Navy Terrier missile is controlled in flight through the stabilization system, provided by the U. Time-manufactured gyro During the boom of the U. The height of the company's ordnance and ammunition business lasted through the Vietnam era in the s and s, during which it operated Joliet Army Ammunition Plant  as well as privately owned plants, production and storage facilities at Waterbury, Connecticut; Euclid, Ohio ; Bristol, Connecticut ; Paterson, New Jersey ; and Thomaston, Connecticut , where it produced and stored artillery shell fuzes, together with tooling and special test equipment for artillery fuze production.
Lehmkuhl made two more decisions that proved pivotal to the company's long-term success. The company would go on to, or continue to pursue innovative marketing programs and develop new channels of distribution. A marketing decision was made to use the most credible newsman in the United States at that time, John Cameron Swayze , as a spokesperson for live torture tests on television with the tag line created by Russ Alben ,  "Timex — Takes a Licking and keeps on Ticking", a well-recognized campaign in advertising history.
The commercials included high-divers, water skiers, a dolphin, dishwashers, jackhammers, paint mixers and the propeller of an outboard motor, all torturing a Timex watch.
Plants were built in the United States, Europe, and Asia. Land , co-founder of Polaroid Corporation , contacted United States Time Corporation in in search of a manufacturer for his cameras. A strong relationship was forged between the companies in resulting in United States Time becoming the exclusive manufacturer of all Polaroid cameras worldwide through the s, totaling more than 44 million cameras.
Lehmkuhl retired in with no clear successor.