The face of watchmaking is changing. Now that the patents on components have largely expired in Europe, more companies are free to make their own pieces from start to finish, and Switzerland's luxury watchmakers are eager to get into the game.
The Swiss watch industry provides employment for 42,000 people, nearly one percent of the labor force, many of whom work for mechanism manufacturer ETA, which builds most of the motors for the industry. Antitrust regulators have recently allowed ETA to scale back production, and to gradually shift to supplying only its parent company, Swatch.
That means that, increasingly in the years to come, motors and other components will be made by the various houses themselves, or by other suppliers. This diversification means more efficiency, more innovation, and, possibly, better reliability. That ensures the watch continues its place as not just a beautiful accessory, but a functional one.