Yes, but mechanical watches are still doing fine in the high-end of the market.
Did you know that, ironically, the British used to be the premier watchmakers, but they were driven out of the market in the 19th century by cheap competition from (amongst other places) Switzerland?
Did you know that, ironically, the British used to be the premier watchmakers, but they were driven out of the market in the 19th century by cheap competition from (amongst other places) Switzerland?