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Timec history
Timec company history timeline
Timex began producing digital watches in 1972, but it had not moved as fast as its competition.
Lehmkuhl had reportedly become increasingly eccentric and difficult to work with, and in 1973 Olsen's son Fred had the 78-year-old founder and chairperson removed from office.
In 1974 the company's net income fell by one-third to $8.7 million on sales of $348 million.
By 1976 digital watch prices had fallen into the price range of the company's mechanical watches, and Timex began losing market share.
A price war ensued, and by 1977 Texas Instruments had slashed the price of one of its most popular watches to $10.
The entire watch industry had a good year in 1977, and Timex decided to slow the downsizing of mechanical watch production.
Timex lost $4.7 million on sales of $600 million in 1979.
By 1980 Timex ended up having to pare down to primarily manufacturing watches—due to market demand.
Timex also showed its ads in movie theaters, purchasing four weeks of ad time at Screenvision Cinema Network's 4,500 theaters in 1986.
The company launched its Atlantis 100 water resistant sports watch in 1986 with a $1 million ad shown during football's Super Bowl.
In 1990, with its market share under continual pressure, Timex spent $7 million on a unique two-month print ad campaign.
In 1991, Timex engineers also came up with an original dial backlight – the INDIGLO technology, which, to this day, has almost no competition in inexpensive watches.
In 1992, the company introduced a technology called ‘Indiglo’ night light technology, where the watch emitted an indigo-hue glow for night readability.
Once again, however, a labor dispute at Timex UK sullied the company's public image in 1993.
The company also created a subsidiary dedicated to the design and marketing of its Nautica watch in 1996.
In 1998, Timex introduced another new product--the Humvee.
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Timec competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| JVIC | 1998 | $530.0M | 1,609 | - |
| Ohmstede | 1905 | $300.0M | 1,000 | 3 |
| Infinity Construction Services | 2003 | - | 3,000 | - |
| SunEnergy1 | - | $350.7M | 45 | 36 |
| Strata Solar | 2009 | $13.0M | 375 | 54 |
| K2 Industrial Services | 2003 | $45.0M | 90 | - |
| Oryx Oilfield Services | 2008 | $38.3M | 45 | - |
| Team Trident | 2006 | $15.0M | 300 | - |
| Potelco | 1965 | $710.0M | 3,000 | - |
| EMS USA | 2003 | $1.1B | 1,650 | - |
Timec history FAQs
Zippia gives an in-depth look into the details of Timec, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Timec. The employee data is based on information from people who have self-reported their past or current employments at Timec. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Timec. The data presented on this page does not represent the view of Timec and its employees or that of Zippia.
Timec may also be known as or be related to Timec, Timec Co., Inc. and Timec Company, Inc.