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Shouldn't it be a Rolex?
A letter was published in the British Horological Journal in the 1950's (can't remember the exact date) from the Chairman of Rolex apologising to SmithS for suggesting that Rolex was on the summit with Hillary and accepting that it was a SmithS. I think if Tenzing was wearing a Rolex much would have been made of it and there wouldn't have been a public apology.
The British 1953 expedition was sponsored by Smiths.
The 1952 Swiss expedition was sponsored by Rolex.
To suggest that Tenzing wore his gold Rolex to the summit is lunacy. Way to valuable for his family.
Best