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Philip Morris International (PMI) will scale back and partially outsource its vaping business, instead choosing to focus on heated tobacco (HTP) and nicotine pouches as the tobacco alternatives that can help it meet its goal of transitioning to a majority smoke-free revenue company by 2025.
The company announced in its 2023 first quarter results that it would only be focusing on certain markets for its Veev vaping products going forward.
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