The Molnija clock and watch factory was opened on November 17, 1947. The company's main customer was then the Soviet Union Department of Defense, providing them with wristwatches, pocket watches and table clocks. Unique clocks were also produced specifically for use in Soviet tanks, fighter aircraft, submarines and, eventually, spacecraft.

Molnija's main product is mechanical pocket watches with military, religious and historical motifs. About 80% of the work on most of the watches is done by hand. Some Molnija movements are used in oversized men's wristwatches.