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ITM Semiconductor Co..Ltd to Develop E-cigarette Devices for KT&G

Jan.06.2025
ITM Semiconductor Co..Ltd to Develop E-cigarette Devices for KT&G
ITM Semiconductor Co..Ltd has signed a contract with KT&G for new e-cigarette development services, aiming for increased sales by 2025.

According to a report from N.News on January 3, South Korean secondary battery protection circuit technology company ITM Semiconductor Co., Ltd (referred to as "ITM Semiconductor") has announced that it has signed a contract with South Korean tobacco company KT&G for the development of new e-cigarette products. Under the contract, ITM Semiconductor is expected to supply KT&G with four devices, including strategic export models, in addition to the currently mass-produced "Lil Hybrid," by 2025.


The newly developed e-cigarette device model is designed for export only. If mass production goes according to plan, it is expected to generate additional sales starting in the second half of 2025. ITM Semiconductor predicts that its e-cigarette sales growth rate will be more than double that of 2024.


Various stages of work, including development validation, trial production validation, and mass production validation, will be carried out within the contract period. Mass production is planned to begin in 2025, with mass supply achieved by 2026.


ITM Semiconductor's future business head, Baek Cheol-seung, stated that...


The global e-cigarette market is currently undergoing rapid growth, and we are preparing to supply products to client companies at the right time and place. In the future, we will establish a system capable of producing a variety of e-cigarettes through continuous technological development.


According to reports, ITM Semiconductor was established in 2000 and is a South Korean company that produces protection circuits for mobile phone batteries. In 2022, the company began producing e-cigarette devices and pods, and due to its expertise in large battery technology, it is expanding its business into the defense industry sector.


References:
[1] 아이티엠반도체, KT&G 전자담배 신제품 개발 용역계약 체결
Also Read:
[1] PMI and KT&G Increase Convenience Store HNB Equipment Margins to 7% in Response to Retailer Demands
[2] KT&G Plans to Launch New Heating Tobacco Products in 2025
[3] KT&G Selected for Dow Jones Sustainability Global Index Again
[4] KT&G Dominates South Korean E-Cigarette Market with "Lil" Series
[5] KT&G Eyes Global Expansion with New Vape Brand Myon and HNB Innovations at InterTabac
[6] KT&G Launches Limited Edition "Raison Ionia 3 in 1" at Airports
[7] KT&G Dominates HNB e-Cigarette Market with Lil Series
#Asia#Market#Pod system e-cigarettes#South Korea

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