Philip Morris (PM.US) officially launched its IQOS heated tobacco device in Austin, Texas on Thursday, priced at $60 with tobacco sticks at $8 per pack. The world's largest cigarette maker aims to capture 10% of the U.S. tobacco and heated tobacco market by 2030 as it enters what it considers the top global market for smoking alternatives.
Regulatory and Marketing Approach
"We're offering IQOS at a lower price compared to other markets to build appetite among new consumers," said Francisca Rahardja, PMI's marketing chief for inhalables. The company is showcasing the product at the Austin MotoGP and has deployed "IQOS coaches" at adult-only venues. PM is currently selling an older FDA-approved IQOS version while awaiting authorization for its latest iteration, ILUMA, having announced only the Austin launch so far despite earlier plans for expansion to four cities.
Philip Morris (D1 Interval)
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