© Reuters. FILE PHOTO: IQOS heated tobacco products are seen on display as cigarette maker Philip Morris International launches its first flagship boutique store in Sandton, Johannesburg, South Africa, July 25, 2019. REUTERS/Nqobile Dludla/File PhotoLONDON -Philip Morris International is preparing to launch its flagship heated tobacco device IQOS in Austin, Texas, indicating it will be the first testing ground for its U.S. entry, job adverts on LinkedIn show.
The Marlboro maker had said it planned to launch the device in four cities in two U.S. states starting with one city in the second quarter, ahead of a broader roll-out likely in 2025. However it had not released further details, including around which cities or states it is targeting. While cigarettes accounted for the vast majority of that, Euromonitor forecasts their value will shrink by 30% by 2027. The value of vapes, heated tobacco products and other alternatives will rise by 36% over the same period, it says.Products like IQOS work by heating up sticks of ground up tobacco without burning them in an attempt to avoid the harmful chemicals released via combustion.
Tobacco taxes in the state are also relatively low, according to Centers for Disease Control and Prevention data. The excise tax rate on a pack of cigarettes in Texas stood at $1.41 in September 2023, the data shows - far higher than the 17 cents in Missouri but also well below the more than $5 per pack in New York.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BuzzFeed - 🏆 730. / 51 Read more »
Source: people - 🏆 712. / 51 Read more »
Source: dallasnews - 🏆 18. / 71 Read more »
Source: cbsaustin - 🏆 595. / 51 Read more »
Source: FOX4 - 🏆 289. / 63 Read more »
Source: 11W - 🏆 384. / 55 Read more »