Yes, and that was the case in the watch manufacturing industry, it's not anymore.
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So whereas your local car dealership is independently owned and operated, he sells cars, makes a profit, then services and carries out warranty work and makes more profit, the Swiss are keeping all the profits to themselves, sales, warranty, and after sales servicing. And don't forget to add in that many car dealerships also offer OEM parts for repairs, or aftermarket as well, imagine the Swiss doing that? not likely...
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