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Price hikes batter market share

11 Feb 2013. The top three foreign tobacco companies doing business in Korea saw their combined market share drop 5 percentage points in January, after increasing prices on their products, Yonhap News Agency reported.

Combined market share of Philip Morris International (PMI), British American Tobacco (BAT) and Japan Tobacco International (JTI) fell 5.1 per cent to 35.3 per cent in the first month of 2013, the news agency said.

Former Korean state monopoly KT&G, with lower priced products, realized a market-share increase of 4.3 percentage points to 64.7 per cent.

PMI market share fell 3.4 percentage points to 19.3 per cent. BAT market share in January was 9.8 per cent and JTIís share was 6.2 per cent, Yonhap reported. (pi)