Albeit using a heating technology, IQOS VEEV is different to the regular IQOS in that it does not heat tobacco, but e-liquid. VEEV is the pre-filled, pre-sealed pod containing e-liquid which comes with a metallic mesh and tiny holes that heat the liquid up. Besides containing pharmaceutical-grade nicotine, the e-liquid in the VEEV also contains food-grade flavourings.
One of PMI’s main successful markets is Japan, where driven by IQOS, the overall heated tobacco category continues to grow.
“Our ambition is that all those adults who would otherwise continue smoking cigarettes around the world switch to better alternatives based on science,” said PMI’s incoming Polish CEO Jacek Olczak.
“Adult smokers who would otherwise continue to smoke deserve to know about, and have access to, better alternatives to cigarettes. Smoke-free products such as IQOS, while not risk-free, are a much better choice than continuing to smoke. We must get the facts straight to clear up any confusion for consumers and prevent them from going back to and using cigarettes, one of the most harmful forms of nicotine consumption.”
“I am passionate in believing that the answer lies in conversation, addressing consumer misinformation and confusion, and having open and scientifically informed discussions that focus on the better choices for adults who would otherwise continue smoking,” he added.
Olczak pointed out that one of the company’s main successful markets is Japan, where the overall heated tobacco category continues to grow, and the large majority of this growth is driven by IQOS, which makes up almost 26% of its total tobacco market.
Despite the pandemic, PMI did better than expected
An article on The Edge, highlighted that despite challenges brought about by the Covid-19 pandemic, PMI did better than expected.
“PMI delivered stronger-than-anticipated results in 3Q2020 with adjusted diluted earnings per share growth of 5.6% to US$1.42. However, revenue was down 2.6% to US$7.45 billion (RM30.1 billion) during the quarter compared with US$7.64 billion in the previous corresponding period. It was reported that analysts were looking at an earnings per share of US$1.36 on revenue of US$7.28 billion for 3Q2020. It will release its full-year financial results for 2020 in February.”