That's what i use for my phones since a year and at this time i have no problem.don't forget we lubricate gears and sewing oïl is also for gears on a sewing machine.
That is why I avoid the use of sewing machine oul. Compare the size of gears in a sewing machine to those in a dial. Automobile gear cases also have gears, but because tolerances are looser, a much heavier weight of oil is needed for them. They are much larger and are motor driven.
Also, if you open an old sewing machine, the build-up of dust is on the spots which have been oiled. Sewing machine oil is better than a lot of oils, but does dry out and collect dust. It is not the correct viscosity but close enough for the short term.
Watch oil is formulated for smaller gears with tighter tolerances, and is formulated not to collect dust. While a dial will work for a year or two without re-cleaning, watch oil will last for years.
Dave