Hughes Aircraft Co. Was formed in 1932 by Howard Hughes. By 1948 a new group was formed within the company, it was called the Airbourne System Group. They were responsible for missile design and general sales to the DoD. In 1961 another sub division was formed and was known as the Hughes Aerospace Group. They mainly were responsible for design and manufacture of guidance systems, satellites and space exploration equipment. By the mid 60’s the general manager of Hughes Aircraft (L.A. Hyland) decided to diversify the company as some of their government contracts had been cancelled. In the late 60’s a new plant was opened in Newport Beach Ca. It would be known as the Microelectronics Division. It would be responsible for a new venture, the design and the manufacture of components for led wrist watches. The technology had already been developed by the Electronics Division of Hughes Aircraft Co. At their El Segundo plant. Hughes went on to produce led modules from 1973 to 1978. They also made a brief attempt at producing LCD watches in 1976 but soon halted production due to the overly competitive market. Hughes was later sold to G.M. who later pieced out the divisions. You might still be using their technology today if you watch television with Direct TV.
Thanks to John Vaught for this information