According to a report by N.News on August 27, British American Tobacco (BAT) has decided to postpone the release of its synthetic nicotine e-cigarette to the fourth quarter.
Despite some delays compared to the initial plan, the company still plans to launch this product in the fourth quarter.
BAT's South Korean subsidiary, LFMT, revealed that BAT originally planned to launch a synthetic nicotine e-cigarette in the third quarter, but due to production preparation issues, the release schedule has been postponed.
However, the company still maintains that despite some delays, the product will still be launched in the fourth quarter.
A representative of the company stated that,
The planned launch of the synthetic nicotine e-cigarette by BAT in the domestic market remains unchanged. Despite delays in release due to production preparations, the product is set to be launched in the fourth quarter.
In May of this year (2024), BAT announced that it would be launching a new product, a synthetic nicotine e-cigarette, in South Korea. The company also revealed that it plans to pass on the savings from tax incentives to consumers.
In July last year (2023), the company launched "Vuse" with natural nicotine e-liquid in the South Korean market, but it faced tough competition compared to synthetic nicotine e-cigarettes that do not require payment of tobacco tax.
Currently, South Korea's Tobacco Business Act only defines products made from tobacco leaves as tobacco products, which means that synthetic nicotine e-cigarettes are not legally restricted.
Synthetic nicotine e-cigarettes are cheap and law enforcement and penalties cannot be carried out in smoke-free areas. They can even be sold near schools with a lack of relevant legal constraints. In addition, these products can be freely sold online, with unrestricted advertising marketing, making it easy for teenagers to be influenced. Although the South Korean government is conducting research on synthetic nicotine e-cigarettes and proposing relevant regulatory legislation in parliament, progress is slow.
As a result, BAT has announced the formal launch of a synthetic nicotine e-cigarette, which will further intensify market competition.
An industry professional pointed out:
For BAT, which is making inroads into the e-cigarette market, synthetically produced nicotine e-cigarettes without any regulation undoubtedly have a relative advantage. Therefore, unless the government and Congress refine relevant regulations, this trend will continue.
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