By the late 1970s, the markets for clocks, watches, and automotive instruments had progressively decreased to the point where little of Smith's revenue came from these sources. The importance of the UK market was also diminishing for the company; by the early 1980s, 40 per cent of Smith Industry's profits were attributed to its overseas markets. In line with these business trends, the company embarked on a further round of restructuring during this period, leading to the adoption of a decentralised structure and looser management style.