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JAPAN

JT, PMI slash HNB device prices

05 Jun 2018. Japan Tobacco Inc. (JT) said it had cut the price of its Ploom Tech device, nationwide sales of which began on 4 June, following a similar price reduction by Philip Morris of its IQOS tobacco heating device, according to a Reuters report.

The price of JTís Ploom Tech device has been cut 25 per cent from JPY 4,000 (EUR 31.17) to JPY 3,000, timed to coincide with the start of nationwide sales of the device.

JT holds around 60 per cent market share for cigarettes in Japan but has lagged behind Philip Morris in the heated tobacco category. "We are finally prepared and confident that we can reverse our position and go on the offensive," President of JTís domestic tobacco business, Chito Sasaki, was quoted as saying.

Philip Morris earlier cut the retail price of its IQOS device by around 30 per cent to JPY 7,980 (EUR 62.19).

Reuters said Japan accounts for at least 90 per cent of the global USD 5 billion heated tobacco market, and Philip Morris claims its IQOS platform now has a 16.8 per cent share of Japanís entire tobacco market, including heated tobacco consumables and conventional cigarettes, Reuters said.