According to a report from N. News on October 28, Japan Tobacco International Korea (JTI) announced at a press conference in Seoul on the same day the launch of the heated tobacco product (HTP) "Ploom X Advanced" in South Korea.
David Wheeler, CEO of JTI Korea, stated during a press conference that South Korea is the fourth largest heated tobacco market globally, with a market share of 20%. In order to adapt to market changes and expand consumer choices, the company has decided that it is necessary to diversify its product portfolio.
Willer pointed out that although JTI was a latecomer in the South Korean market, the timing was very timely. With its innovative technology in the new product "Ploom X Advanced," the company has the ability to compete in the rapidly growing e-cigarette market.
According to the introduction, the newly launched "Ploom X Advanced" core technology "Heatflow" can increase the heating temperature to 320 degrees. The product can be used unlimited times within 5 minutes of use, and can continuously use up to 3 pods at a time. After charging for 90 minutes, it can support up to 20 pods.
The exclusive pod brand for "Ploom X Advanced" is "MEVIUS", offering five choices including Deep Regular, Ice Cold, Purple Option, Baise Option, and Shine Fresh.
The new product will be released for the first time on the Ploom website on November 4th, with 100 limited edition pre-sale packages available. The suggested retail price is 69,000 Korean won (approximately $50 USD), with a discount available for first-time buyers. On November 12th, the new product will also be available for sale at convenience stores and e-commerce platforms in the Seoul area.
JTI Korea launched "Ploom Tech" in 2019, but due to poor market share and the impact of anti-Japanese activities in Japan, it ceased sales in 2021.
According to data from the South Korean Ministry of Finance, the market share of HTP increased from 10.5% in 2019 to 14.8% in 2022, reaching 16.9% in the first half of last year. JTI stated that their goal is to achieve a 10% market share in the global e-cigarette market within the next 3 to 4 years.
The CEO, Mr. Wei Le, stated that, "The new product, designed with consumers in mind, offers "modern enjoyment" that matches the lifestyle and choices of modern consumers. It incorporates excellent and innovative technology, as well as perfect design options. We believe it will become the most popular way for South Koreans to enjoy the original flavor of tobacco."
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