According to a report from Reuters on July 23rd, Philip Morris International (PMI) has postponed the trial sales of its heated tobacco device IQOS in the United States to the fourth quarter and lowered its annual forecast for the heated tobacco business. The trial was originally scheduled to take place in Austin, Texas in the second quarter, but the company declined to comment on the reason for the delay.
Facing stricter regulations and declining smoking rates in some markets, PMI has invested billions of dollars to promote and expand its portfolio of alternative products to traditional combustible cigarettes. Its flagship HNB device launched in the United States also faces resistance from health advocates.
In addition, the company is also awaiting market authorization from the US FDA for its IQOS ILUMA device, expected to be received in the second half of 2025.
The European Union's ban on flavored heated tobacco products has already impacted this year's shipments, according to PMI. The company stated that the ban's impact was "slightly larger than" previously expected, leading to a reduction in the forecasted sales growth for the heated tobacco category for the full year. Sales growth is now expected to decrease from the initial estimate of 14% to 16% to approximately 13%.
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