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Yes. It's interesting to see so many replies in this thread completely missing the aspects you describe and only focusing on the practical usage of the watch.

I'll also add that bubble-era Japan was full of novelty electronics like this. Companies were investing heavily in R&D, and even if sales weren't great, these kinds of items boosted prestige and reputations for being cutting edge.



Not to mention these creates surely incorporated some R&D inventions that were then used in different, more popular and profitable products.




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