JAPAN
Japan Tobacco International (JTI) has slashed the prices on its heated tobacco products after a similar move by rival Philip Morris, signaling increased competition in Japan’s market for alternative cigarettes.
JTI cut the price of its Ploom Tech device to JP¥3,000 (US$27.61) from ¥4,000. PMI cut the price of its IQOS device by about 30% to ¥,980. British American Tobacco (BAT) started to sell its glo device at ¥2,980 this May, from ¥5,980, as a time-limited offer through late December.
The price cuts come as analysts say the industry may need catalysts for more growth after an initial surge in sales to those eager to try out heat-not-burn products.