Along with Philip Morris, Japan Tobacco International also agreed to take a 20% position in the Russian company.
Draft legislation would ban all refill liquids, refillable atomizers, and all flavors, and impose nicotine-level restrictions.
The international tobacco giant has warned that it could face challenging times ahead, but can it follow Lorillard's strategy of using e-cigarettes to diversify?
Today’s losers all paint pictures of bleaker tomorrows. Investors disapprove of the aesthetics.
The international tobacco giant thinks it can have an electronic cigarette on the market within the next year.
Does this analyst make a good case? Or is it just more noise from Wall Street?
Philip Morris International announced it would begin selling its own e-cigarettes beginning in the second half of 2014 that offers improved taste over current products.
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The U.S. and other developed nations may be smoking less, but market share and developing-nation smoking habits will keep the company printing cash for years.