Edited by Rui Tian - Philip Morris Japan is focusing on expanding the market share of their heated tobacco product "IQOS". On March 6th, they released "Centia Smooth Gold" (20 sticks for 530 yen), a new variety of tobacco stick for "IQOS ILUMA" and expanded their lineup. With the release of the new product, the Centia lineup now has a total of 13 varieties.
As of now IQOS are sold in 8 locations in Japan (IQOS Shop, IQOS Corner), other tobacco retailers, and online retailer.
According to the full-year financial results for 2022 released by Philip Morris International (PMI) in February, net sales increased by 1.1% year-on-year to $31.762 billion, and adjusted operating profit decreased by 5% to $12.98 billion. Smoke-free products contributed to the increase in revenue accounting for 32.1% of PMI's total revenue.
The company's heated tobacco products are sold in 73 markets worldwide as of the end of 2022. In Japan, heated tobacco accounts for nearly 35% of the entire tobacco market, and IQOS is driving its growth. With the expansion of the Centia lineup, it remains to be seen how much IQOS can increase its market share.
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