Wednesday, July 24, 2024

British American Tobacco plans to introduce a new tobacco heating device in the United States


British American Tobacco (BAT) was founded in 1902, headquartered in London, UK. It is the second largest tobacco listed company in the world. As an international tobacco company, its global market share has reached 15%. And it has more than 80 factories in 64 countries around the world, and they are leading in more than 50 markets. Recently, British American Tobacco Group announced that it expects to introduce a new tobacco heating device in the United States by the end of this year. The aim is to surpass the world’s largest cigarette producer, Philip Morris (PMI).

Currently, the Food and Drug Administration has approved the sale of new heating tobacco equipment, and its share price has risen 5% since the announcement of the plan. BAT’s biggest competitor is Philip Morris. Heat not burn devices are a very competitive product for businesses, and also a better choice for smokers.

Nicandro Durante, chief executive of British and American Tobacco, was delighted that they were the first tobacco company to launch a tobacco heating product. Although PMI has similar products, it is still awaiting FDA approval. Nicandro Durante revealed that it is expected to test products in a small area of the United States by the end of this year, and that it is expected to be fully marketed in 2019.

For British American Tobacco, the U.S. and U.K. markets are the most competitive places in the vape industry. The development speed of electronic cigarettes here is much faster than that of other countries, and consumer consumption capacity is also stronger. However, according to the current development trend, the Asian region also has great potential for development. The changes in China, Korea, Japan and other markets have been closely watched by the industry.

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