Philip Morris international（PMI） recently launched their more affordable product, BONDS, in a city in the Philippines. The product is now available in 30 low to middle income countries. PMI aims to have 50% of the smoke-free product market in low to middle income countries by 2025, with a goal of at least 40 million smokers switching from traditional cigarettes to IQOS products. As of September 30, 2022, there are around 19.5 million IQOS product users worldwide, with approximately 13.5 million smokers having switched from traditional cigarettes to IQOS, except for in Russia and Ukraine.
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