Nagra used to be a totally engineering-led company at the time when Stefan Kudelski ran the company.
Later, it split into two parts, the 'HiFi' part, run by his daughter, went all 'high-end' bollocks, trading on the visual look and reputation of the original, whilst the more engineering side specialised and still does, on video encoding, security, and digital media.
Incidentally, dCS did something similar. In the days of Mike Story, they were a totally engineering-led company, doing some great work on digital audio and custom engineering, for military and civilian purposes. I think at about the time when it was clear that digital audio was becoming a commodity, they also went all 'hifi', with more and more expensive and visually interesting products, whereas previously, they were housed in prosaic 19" rack-mount boxes.
S.