According to N. News on August 6, in the first half of 2024, Philip Morris International Korea expanded its domestic market share through the upgrading of heat-not-burn electronic cigarette devices.

Against the backdrop of continued growth in the domestic electronic cigarette market, the company decided to stop producing the old “IQOS” and its dedicated cartridges “HEETS”, and instead focus on the new “IQOS ILUMA” and “TEREA”, achieving significant profit growth.

According to PMI data, in the first half of this year, PMI Korea’s market share of traditional cigarettes and electronic cigarettes in the country reached 20.0%, an increase of 0.5% from 19.5% in the same period last year.

In addition, heat-not-burn electronic cigarettes have driven PMI Korea’s market share. In the first half of this year, the company’s “TEREA” and other heat-not-burn electronic cigarette cartridges (HTU) had a market share of 7.9%, an increase of 1% from 6.9% in the same period last year. This growth rate is twice the growth of the overall tobacco market share, further consolidating the leadership of heat-not-burn e-cigarettes in the market.

At the same time, the shipment volume of heat-not-burn e-cigarette cartridges reached 2.8 billion, an increase of 11.7% year-on-year, far exceeding the growth rate of the entire cigarette market shipment volume (0.5%). The shipment volume of traditional cigarettes fell from 4.4 billion to 4.2 billion, a year-on-year decrease of 5.6%.

Last year, the company focused on promoting “IQOS ILUMA”, and this year it has increased its e-cigarette market share by expanding the “TEREA” cartridge product line.

Following the launch of “TEREA Russet” and “TEREA Teak” last year, “TEREA Arbor Pearl” and “TEREA Starling Pearl” were launched in March and June this year, respectively, expanding TEREA’s product line to 17 types.