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.
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