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At least 30% of Philip Morris International’s (PMI’s) shipment volume will consist of new tobacco products by 2025 if the company meets a newly set objective.
The tobacco company expects its reduced-risk portfolio and continued good performance in Asian countries to drive this growth.
At its Annual Meeting of Shareholders, which took place a few days ago in New York, PMI’s board of directors said that heated tobacco products (heat-not-burn) “have no ceiling in sight”, citing the case of Japan, where IQOS consumables Heets achieved a 15.8% share of the national tobacco market in Q1 2018 – up from 14% in Q4 2017....