Recently, Philip Morris International (PMI) launched its heated tobacco product IQOS ILUMA in multiple emerging markets worldwide, as well as a limited edition version called IQOS ILUMA STARDRIFT with innovative design features in several mature markets.
PMI has introduced IQOS ILUMA in seven different countries in emerging markets, spanning Europe, Asia, and the Americas. These countries include Bulgaria, Malaysia, Bosnia and Herzegovina, Macedonia, Montenegro, Guatemala, and Morocco. It is noteworthy that Macedonia, Bosnia and Herzegovina, Montenegro, and Bulgaria are located in southeastern Europe, in close proximity to PMI's factory in Italy.
Meanwhile, IQOS ILUMA STARDRIFT has also been launched in mature markets such as South Korea, Spain, and Romania.
Philip Morris International (PMI) is focusing on the US market and has recently submitted a premarket tobacco product application (PMTA) and a modified risk tobacco product application (MRTPA) for IQOS ILUMA to the Food and Drug Administration (FDA) in late October. This move is an important step towards the official launch of their product in the US market.
Furthermore, PMI is currently seeking trademark registration for "VEEV One Ultra" and "VEEV Now Ultra" at the Korean Patent Office, indicating that the company may have plans to launch its vape product VEEV in the Korean market in the future.
In its latest quarterly report, PMI announced a remarkable achievement of surpassing $9 billion in net income for the first time, with the success of IQOS being one of the key factors. The report reveals that the shipment volume of heated tobacco products, including e-cigarettes, increased by 18% compared to the previous quarter. PMI is actively driving innovation and market expansion to bolster its performance globally.
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