In May of this year, KT&G released the "Lil Hybrid Ez" product.
KT&G announced on the 7th that their tobacco-type electronic cigarette "Lil" sold a total of 3.79 million units in domestic and international markets last year.
In 2017, KT&G launched the e-cigarette brand "Lil" in South Korea. Since then, they have introduced new device platforms such as "Lil Mini," "Lil Solid 2.0," and "Lil Hybrid.
According to data from KT&G, Lil's domestic market share increased from 16.1% in 2018 to 31.7% in 2019, almost doubling. In the second quarter of this year, Lil ranked first among Korean tobacco companies with a 47% share. Additionally, the cumulative sales of Lil devices exceeded 4 million units as of last year.
The company's assessment states that research and development efforts serve as the backbone of these achievements. KT&G established a specialized intellectual property organization in 2016 and expanded the job positions and patent compensation system for its researchers. Moreover, research and development investments have consistently grown over the years, with investment costs increasing significantly from KRW 4.1 billion in 2017 to KRW 21.4 billion last year.
KT&G is quickly expanding its presence in international markets. The company has signed a product supply contract with PMI (Philip Morris International) to expand overseas in Lille in 2020. Starting with three countries - Russia, Ukraine, and Japan - the export reaches have since expanded throughout the first quarter of this year, covering 25 countries including Southeast Asia and Europe.
KT&G, a South Korean tobacco company, is expanding its presence in Europe. It currently sells its products in eight countries including Poland, Greece, and Italy. To penetrate the European market further, the company is increasing its patent applications. According to the "2021 Korea Company European Patent Index" published by the European Patent Office in March, KT&G has applied for 233 patents in Europe, ranking third after Samsung and LG.
Foreign securities companies are also keeping an eye on Ryohir's overseas market growth. Kelly Jin, a researcher at Morgan Stanley, stated in last month's KT&G Q2 earnings report that "the sales growth rate of global electronic cigarettes is enough to attract investors' attention.
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