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Two accused teenagers to remain in custody for at least two more weeks | SaltWire #newsupdate #newsLONDON - Philip Morris International's goals for heated tobacco in the United States are reachable, analysts and investors say, even though rivals see limited potential in a market where vaping dominates.
To do this would mean switching some 2.8 million U.S. smokers to IQOS, based on a Reuters analysis of PMI numbers and Barclays forecasts. Its U.S. roll out will be a key test of the device's ability to appeal to smokers across different markets. If successful in the U.S., PMI would get a substantial base of new, profitable users and a hefty income stream. PMI estimates the total U.S. industry profit pool at around $20 billion.
Barclays forecasts U.S. cigarette and heated tobacco annual sales at around 122.79 billion sticks in 2030. The U.S. Food and Drug Administration has authorised PMI to market IQOS as reducing exposure to harmful chemicals versus cigarettes. The FDA has not done the same for vapes.The most recent IQOS device costs 109 pounds in the United Kingdom, where the packs of tobacco sticks cost around five pounds.
Stefano Volpetti, PMI's president of smoke-free inhaled products, said the company would not use price as a lever to grow sales early on.
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