He is very careful not to actually say Orsto developed the watch from the ground up, but it is heavily implied. There is a lot of bullshit tossed around, like being the only European watch/phone manufacturer, and the many times words like vast, immense, unrivaled and such are tossed around.
The reality is that this guy is taking off-the-shelf Chinese smartwatch guts and putting them in a new case. There's nothing wrong with that at all, but he should just be honest about it. Whenever companies try to pass themselves off as huge operations and BS their way through their self-aggrandizing presentations, it is just SOOO transparent.
If they really do add value and have a good product, they should be happy to sell on that and have no need to make up bullshit stories and claims about themselves or their products. So when the bullshit runs deep, you know that they are covering for the product itself.