Philip Morris International (PMI) said its iQOS heat-not-burn product increased its market share in Japan, one of a handful of countries where the device has been introduced, to 2.2 per cent in the second business quarter.
Volume for traditional cigarettes fell 4.8 per cent, including a 3.1 per cent decline for its Marlboro flagship brand in the three months ended 30 June. PMI said it boosted market share in “key” countries including the Philippines, Turkey, Spain, Mexico and the United Kingdom.
Total shipment volume of the HeatSticks used in iQOS reached 1.2 billion units, up from 52 million units, PMI said. “A highlight of the quarter was our exceptional iQOS performance in Japan, where HeatSticks reached a national share for the quarter of 2.2 per cent, demonstrating the tremendous potential of the reduced-risk products category."
Operating companies income fell 4.8 per cent to USD 2.8 billion (EUR 2.5 billion) on revenue of USD 6.6 billlion, a decline of 3.1 per cent.