This is one incredible looking watch. It's called banner watch because the numerals and other indications are printed on a ticker tape and moved with matching drums.
More here: Devon Works
This reminds of a time when folks experimented with various LED watches. You can find examples here: LED Watches. And one of the most cutting-edge then was the FM radio watch from the Sinclair Labs, the making of which is recalled here by its chief designer: Sinclair FM Radio Watch - Making-Of