5 Things Philip Morris Management Wants You to Know
Over the past couple of years, Philip Morris International (NYSE: PM) has embraced a monumental change in its long-term philosophy. As cigarette smoking becomes less popular, Philip Morris has turned to alternative products as a path forward for future growth, with the goal of finding ways to reduce or eliminate the dangers of smoking traditional cigarettes while still preserving what its customers want. The commercial success of the iQOS heated-tobacco system has been encouraging, and the comments that CFO Jacek Olczak made following Philip Morris's most recent quarterly financial report reveal a lot about how the company sees itself in the future.
Let's look more closely at some of those comments and what they mean for Philip Morris in the long run.
We have now launched iQOS in key cities in 27 markets globally. ... We are particularly pleased with the early performance in Korea. ... Importantly, we continue to grow the national share of our heated tobacco portfolio sequentially in many of our early launched markets beyond Japan.
Source: Fool.com
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