Audemars Piguet presents the modern luxury watch Royal Oak, which by its appearance as the first steel luxury wristwatch and because of its bold design causes a great stir and in the years becomes the most famous watch of the company.
Rolex is converted to a non-profit foundation. This bestowes an annual prize to highly prominent personalities of public life, in addition to researchers and scientists who bring new ideas and have contributed special benefits to the progress and welfare of humanity.
Zenith Radio Corp. of the United States purchases Movado-Zenith-Mondia, temporarily unifying the Zenith brand.