Philip Morris to Enter In The Electronic Cigarettes Business

Philip Morris Electronic Cigarettes

Philip Morris Electronic CigarettesPhilip Morris part of the Altria Group Inc. announced that they have plans to introduce their own electronic cigarette this year, thus putting this nation’s biggest tobacco firm into a growing category of an alternative cigarettes products.

Henrico County; which is based in Altria, the owner of top U.S. cigarette manufacturer Philip Morris USA, said that it plans to sell an electronic cigarette in an undisclosed market in the 2nd half of year 2013. The firm announced some other details on the product.

Altria Chairman as well as the CEO Marty Barrington said during a firms earnings call.

“The [e-cigarette segment] is a small relative of the traditional tobacco products, nevertheless there is no any doubt that the adult tobacco users are interested in it,”

He also explained that Altria has been lately following the current increased awareness as well as the trial of electronic cigarettes over the past-year and also believes that the time is right for Nu-Mark to join the vapor product market. More details on this are set to be revealed at Altria’s Investor Day in early June. Also,  Marty Barrington said that the firms intends to join the electronic cigarette market “responsibly” and more of that will be defined by use of regulations issued by the Drug and Food Administration.

“We do have a good and also a quality product as well as a plan which will allow us to be competitive,” he said.

Nu Mark is an Altria branch which is mainly focused on marketing and also developing innovative tobacco products strictly for adult tobacco consumption. Behind development of the  Verve discs, a tobacco with less nicotine product that Altria Group Inc. launched in May.

“We are happy to know that Nu Mark branch plans to bring forth an electronic cigarette into a ‘lead market’ anytime from june 2013,” said Bonnie Herzog, who is the managing director of beverage consumer research , and tobacco at Wells Fargo Securities LLC.

The Altria’s announcement comes after few months of speculation over when and  also how it would bring forth an e-cigarette. Some frim’s watchers believed that Altria would probably acquire an existing electronic cigarette firm, while some thought that it would re-use its existing development and research muscle to successfully launch this product.

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