Philip Morris Starts US Market Expansion with new IQOS Launch in Texas

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)

The stock price is approaching a short-term resistance level at $155.65. Bears may aim to retest the 30-day EMA, which coincides with the 23.6% Fibonacci retracement level. The RSI is in bearish divergence with lower highs, while the MACD is tightening toward a potential bullish divergence.

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