Literature on the LIP company is scarce and any that does exist is usually in French. However, Nick Downes wrote a very good summary for Timezone back in 2002 and, with his permission, I reproduce the original article here.

As far as their electric watches are concerned, LIP produced the world’s second electric movement, the R 27, in 1958. It was, however, the world’s first “electronic” movement because it contained a tiny diode to reduce sparking on the contacts; it was a bulky unit and required two batteries. Approximately 7000 units were made and it quite hard to find today — I was lucky to get my very nice example in 2007. The fabulous gold R27 below is not mine but is photographed, with the owner’s permission, alongside my stainless steel one:

In September 1962, the R 148 appeared; it was a great improvement over the R 27, being easy to service and only requiring a single battery. The R 148 and R 184 were very similar, the latter being the first electric watch with a date. There are many watches on this website containing these movements, including: Belforte, Benrus, Gervias Pernaud, Sovereign, Stowa, Vulcain and Waltham.

LIP are also well known for their association with the designer Roger Tallon. The R 148 / R 184 appeared in several of his case designs. The ladies LIP movement, R 50, was also used in a Roger Tallon designed case. All the genuine Roger Tallon designed watches from the 1960s now fetch relatively large sums of money. They have all become very collectible.