Business & Economy

Why have HMT watches stopped?

The central government came up with the decision regarding the stoppage of the long moribund
watch division of HMT. HMT had made its remark as one of the star manufacturing units and
super brand watches in the market. The T 3 mantra has worked for HMT. T3 defines
Technology, Titan, and Timidity. Late 1970’s HMT collaborated with citizens that have been
established as a quality and reliable brand in the world. But the demand for this was not so high.
During the 1970’s the sales of these branded watches were soo less and they made enough efforts
to raise the sales in the market. But the arrival of Allwyn, which has been tied up with Japanese
giant Seiko, made the biggest impact on HMT watches.
In the 1970s and 1980s the branded watches were making the noise of ticking in the international
market but so soon it collapsed in the market, the cells of the watch got down. Digital quartz was
hiking the international market during those early years. People usually love the brand, presence,
and appearance of the watch in the market. They value these things very fast. Smartwatches
flowed in the market during the ages.
HMT and Allwyn also introduced quartz watches. But the quantity was small and it was not so
good looking. They limited their designs and varieties of watches. They continued with the
smuggling of watches. The Swiss watches made their debut in India and thus importation was
stopped just because of logistics problems. People started buying branded watches which were
manufactured in the Indian market.
Entrepreneur’s lessons from the story of HMT –
● Innovation plays an important role
● Don’t limit in the technology
● Unethical work habits may crumble the company
● Eyes to be kept in Cost control
● Don’t miss out on any tiny opportunities too
● Concentrate on premium products
Reasons for HMT failure in the market –
● The company limited itself by being innovative. There was less space given for
innovation.
● Titan watches gave tough competition to HMT watches.
● The company missed out the opportunities like, they can develop in the front line time
production of watches, they can even be concentrated on designs and quality of watches.
● They would have produced premium watches with quality and cost control methods.
These are the main reasons to fail their brand in the country. The company has taken the wrong
decision at the wrong time. Titan vanished HMT watches in the market. Unlike Titan, HMT
watches were not so attractive even though they introduced quartz watches. Because HMT
stopped itself from being innovative.

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