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Category: Business & Finance

  • China Regulator Orders Vape Makers to Halt New Plants

    China Regulator Orders Vape Makers to Halt New Plants

    China’s State Tobacco Monopoly Administration ordered e-cigarette manufacturers to halt new factory construction and suspend investment projects as part of efforts to curb price competition and address industry overcapacity, Reuters reported. In a notice issued today (Feb. 13), the regulator said capacity utilization across the sector is already high and warned companies against bypassing the directive by building facilities labeled for other products that are ultimately used to produce e-cigarettes.

    The regulator said manufacturers may only expand production if they can demonstrate genuine necessity or prove output is focused on export markets. The notice also bans producers from transferring supply quotas to unlicensed firms or disguising e-cigarette expansion through investment in other product lines, though it allows companies to restructure capacity through mergers. Authorities added that production lines and approved output for e-cigarettes must be clearly separated from those used for heated tobacco products and smoking accessories.

  • PMI launches IQOS Iluma i One in the UK

    PMI launches IQOS Iluma i One in the UK

    Philip Morris Limited (UK) launched the Iluma I One, the latest addition to its IQOS Iluma heat-not-burn device range, which now includes the Iluma I, Iluma Prime, and Iluma I One. The I One uses the bladeless Smartcore Induction System to deliver tobacco flavor with 95% fewer harmful chemicals than cigarettes and features a touchscreen, autostart, and Flex Puff technology for a personalized experience. The device works with TEREA tobacco sticks, including the new Pearls range, supporting PML’s strategy to provide adult smokers with satisfying, smoke-free alternatives and advance its “smoke-free future” mission in the UK.

  • VooPoo Launches New Pod in North America

    VooPoo Launches New Pod in North America

    VooPoo launched the NAVI × Cyph Kit 80K in North America, a long-lasting refillable pod system delivering up to 80,000 puffs with 30 mL e-liquid capacity per pod. The device features a 0.6 Ω dual mesh coil for dense vapor and enhanced flavor, a 1500 mAh battery for up to five days of use, and two vaping modes—Turbo and Norm—for customizable performance. Designed for easy refills with 12 flavor options, the NAVI × Cyph Kit 80K targets users transitioning from disposables, offering extended use, improved flavor, and compact portability in a single device.

  • BAT Signals Possible Job Cuts from AI Plan

    BAT Signals Possible Job Cuts from AI Plan

    British American Tobacco signaled potential job cuts as part of a new artificial intelligence-driven productivity initiative, while reporting higher annual profits fueled by strong performance from its Velo nicotine pouch. Interim finance chief Javed Iqbal said the program will focus on automation, data analytics, and operational simplification, though the extent of workforce reductions remains unclear. BAT reported adjusted earnings per share growth of 3.4%, with newer product revenue rising 7% for the year and reaching 18.2% of total sales. Velo has gained traction in the United States, becoming the second-largest nicotine pouch brand by market share behind Philip Morris International’s Zyn, supported by competitive pricing and higher nicotine strength offerings.

    Despite momentum in smoke-free products, BAT continues to face regulatory and market headwinds, according to Reuters. The company said illicit vape products are weighing on Vuse performance, with U.S. vape sales expected to remain flat in 2026. Additionally, higher tobacco duties and expanding illicit trade in Australia, along with tax and pricing regulations in Bangladesh, contributed to a more than 7% decline in revenue across BAT’s Asia-Pacific, Middle East, and Africa region, limiting overall group revenue growth to 2.1% in 2025.

  • Momentum Driving BAT Confidence in 2026 Delivery

    Momentum Driving BAT Confidence in 2026 Delivery

    British American Tobacco reported “accelerating momentum” in 2025, driven by strong U.S. combustible sales and rapid growth of its Velo nicotine pouch brand, while total smokeless consumers rose to 34.1 million. The company said new category revenue returned to double-digit growth in the second half of the year and now accounts for 18.2% of total revenue, as BAT continues investing in products such as Vuse, glo and Velo to support long-term transformation.

    BAT expects 2026 performance to fall at the lower end of its mid-term growth targets, projecting 3–5% revenue growth and 5–8% adjusted EPS growth amid continued investment and foreign exchange headwinds, while maintaining dividend increases and launching a £1.3 billion share buyback.

    “Our U.S. business has delivered strong growth, mainly driven by sustained momentum in combustibles, resulting from our commercial actions and enhanced execution,” company CEO Tadeu Marroco said. “Our New Categories revenue is accelerating, returning to double-digit growth in H2, driven by strong Velo growth in all regions. We continue to prioritize accelerating growth in category contribution through investment in our most profitable markets.”

  • JT Reports Record Year with Revenue Up 13%

    JT Reports Record Year with Revenue Up 13%

    Japan Tobacco Inc. (JT) reported record fiscal 2025 results, with revenue rising 13.4% to JPY 3.47 trillion ($22.6 billion) and adjusted operating profit increasing 21.5% to JPY 902.2 billion ($5.9 billion), driven largely by tobacco business growth and the acquisition of Vector Group. Profit climbed 188.9% to JPY 499.1 billion ($3.2 billion), while free cash flow rose to JPY 272.7 billion ($1.8 billion), and the company plans to pay an annual dividend of JPY 234 ($1.52) per share.

    For fiscal 2026, JT forecasts continued growth, projecting revenue to increase 6.6% and adjusted operating profit to rise 7.9%, as it accelerates investment in heated tobacco products to complement its combustible cigarette portfolio and support long-term earnings expansion.

    “These achievements are the outcome of the strategic investments we have actively pursued over the years,” said JT Group president and CEO Takehiko Tsutsui. “In our Business Plan 2026, we intend to accelerate investments in heated products with the aim of establishing them as the second pillar of profit growth, alongside combustibles, in future years. Furthermore, we are targeting high single digit growth at a [compound annual growth rate] in consolidated adjusted operating profit at constant FX, driven by the tobacco business.”

  • Foreign Expansion Driving KT&G’s Success

    Foreign Expansion Driving KT&G’s Success

    In an interview with The Korea Times, KT&G credited expanding overseas operations with its recent financial success, with foreign sales passing domestic for the first time in the company’s history. The South Korean company has seen rapid international growth, with foreign subsidiary revenue rising 245% since 2020 and overseas cigarette volumes more than doubling. KT&G reported record annual sales of 6.5 trillion won ($4.5 billion) and operating profit of 1.35 trillion won in 2025.

    Supported by 16 marketing and manufacturing hubs and five global production plants, KT&G said it plans to continue strengthening its global footprint and product portfolio, as investor interest grows and the company’s market value climbs.

    “Our overseas bases were not established for short-term sales gains,” a KT&G official said. “They were built to create a sustainable global business structure for the long term, taking into account specific consumer demands across different regions.”

  • DoF Says Illicits Threaten Philippines Fiscal Stability

    DoF Says Illicits Threaten Philippines Fiscal Stability

    Philippine finance officials are raising alarms over the growing impact of illicit cigarette trade, warning that smuggling is driving down tobacco excise tax revenues and threatening funding for public health programs. The Department of Finance (DoF) said tobacco tax collections fell 24% from P174.6 billion ($3 billion) in 2021 to P132.3 billion ($2.2 billion) in 2024, despite rising smoking rates, with Finance officials describing illegal tobacco as a direct threat to fiscal stability and healthcare financing.

    Officials estimate the government may have lost up to P172 billion ($2.9 billion) in tobacco excise revenue between 2020 and 2025 due to smuggling, with illegal cigarettes accounting for roughly 20% of the market. Lawmakers and industry representatives said the price gap between legal packs, which sell for P125 to P200 ($2.13 to $3.40), and illicit packs priced as low as P30 ($0.51) is fueling demand, while also pointing to regulatory loopholes and misdeclaration of products as factors worsening the problem. Authorities are now considering measures including harmonizing vape tax rates, introducing minimum retail pricing, and strengthening coordination between regulatory agencies to curb illegal sales.

  • PMI Heads to Present at CAGNY Feb. 18

    PMI Heads to Present at CAGNY Feb. 18

    Philip Morris International announced that Group CEO Jacek Olczak and CFO Emmanuel Babeau will deliver a presentation at the Consumer Analyst Group of New York (CAGNY) Conference on February 18, at 10 a.m. ET. The event will be broadcast via live audio webcast, with presentation slides available online, and a replay accessible for six months. The webcast can also be accessed through PMI’s Investor Relations mobile app.

  • PMI’s Colorado Zyn Factory Producing During Construction

    PMI’s Colorado Zyn Factory Producing During Construction

    Philip Morris International gave the media a look inside its $600 million Zyn nicotine pouch manufacturing plant in Aurora, Colorado, this week. The 150-acre facility, which began construction in late 2024 and is part of PMI’s U.S. smoke-free product expansion, is expected to create 500 jobs when fully operational in 2026. Despite ongoing infrastructure work and significant portions of the main building still under construction, the plant produced its first Zyn products in September 2025, which have already reached the market.