In South Korea, the vaping industry is at the moment dominated by nearby tobacco giant KT&G and international firm Philip Morris (PMI), but BAT hopes that this is about to alter. “BAT has been investing heavily in the analysis and improvement sector to introduce an option and revolutionary new item,” mentioned BAT Korea CEO Kim Eui-Sung mentioned in a statement. “Through launching Glo Sens, we will be in a position to show our firm commitment to lead the tobacco industry’s transformation.”
BAT’s device is priced at 50,000 won ($41) and its pods price four,500 won per pack, which includes a single liquid pod and 3 cigarette pods. Glo Sens can be bought at 4 Glo flagship shops in Seoul and Busan, at all comfort shops, or on-line on the tobacco company’s web site.
The organization is pointing out that the new device is far more hassle-free, as it does not need customers to alter the cigarette sticks each and every time like in current heat-not-burn tobacco devices. Also, with a single charge the device can final all day.
The Accomplishment of “Heat not Burn” devices
The industry share of HNB devices, such as PMI’s’ iQOS and South Korean KT&G Corp.’s lil, has shot up to 11.eight% in two years.
Meanwhile, in the span of two years, the industry share of HNB devices, such as PMI’s’ iQOS and South Korean KT&G Corp.’s lil, has shot up to 11.eight% in South Korea.
The item has been introduced in South Korea only two years ago, and but according to information released by the Ministry of Economy and Finance final December, 288 million packs of “cigarettes” had been sold in November, of which 35 million packs, had been HnB refills. This equated to an 11.three%, up from 7.three% the prior year.
HnB tax income totals 10.7 trillion
A December report had also shown that the cumulative sales of HnB refills had reached 295.five million packs, with a 9.three % share in the tobacco industry. Tax income from the manufacture and sale of all tobacco items in Korea, had totaled 10.7 trillion won ($9.five billion), up two.six% from the preceding year and a whopping 63.9% from the identical period in 2014 ahead of the sale tax went up sharply.
Additional information released by the government has indicated that HNB sales have stood at 92 million packs in the initially quarter of this year, up a whopping 34% from a year earlier. This equates to an raise of 11.eight % as of finish-March, from two.two% two years ago.
Study Additional: The Investor