PMI Releases 2020 Second-Quarter Report
On July 21, 2020, Philip Morris International (PMI), the maker of IQOS, released its 2020 Second Quarter report.
- Net revenue decreased by 13.6%
- Operating profits decreased by 14.3%
- The report states that “PMI does not currently anticipate out-of-stock situations in any major operating income markets and generally expects consumers to have adequate access to its products”
- Market share for IQOS rose by 1.8 points and is now at 6.8%
- There are approximately 15.4 million IQOS users, of which approximately 11.2 million have fully switched from traditional smoking to IQOS
- As of July 07, 2020 the United States Food and Drug Administration approved IQOS to be marketed as a modified risk tobacco product (read more)
To read the full 2020 Second Quarter report, click here.