In the mid 1970's, with legendary Swiss watchmaking prowess being overshadowed by Japanese watchmaking advances, the Swiss Corporation for Microelectronics and Watchmaking Industries (SMH) was founded. Its response to the crisis the Swiss faced in this industry was the creation of Swatch, a revolutionary slim plastic watch with just 51 components. It hit the markets in 1983, combining Swiss quality with a very affordable pricetag. Swatch went on to become the most successful wristwatch of all time. Anyone who has ever owned one understands why. And that is why most Swatch owners, have more than one!