Philip Morris Europe CEO: IQOS Revenue Surpasses Marlboro's
According to a report from Expansion on April 9th, Massimo Andolina, CEO of Philip Morris International's (PMI) European division, stated, "The revenue from IQOS has already surpassed that of Marlboro."
This significant discovery marks a major turning point for PMI since it began to shift its strategy in 2016. The company started to enter the e-cigarette market in 2016, betting that the future market would lean more towards smoke-free products, and now this judgment has been validated.
Currently, the company is considering opening an alternative product manufacturing plant in Spain, but the condition is that there must be "favorable conditions."
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