On October 28, Japan Cigarette Korea plans to release HTP devices. “Ploom X Advanced” and is expected to be available before the end of the year, marking the company’s second attempt to enter the Korean market after three years.
According to a recent report by M.Dnews. Japan Cigarette Korea Corporation (JT) ‘s latest heated tobacco device will be unveiled at a press conference on October 28. (HTP) “Ploom X Advanced” and is expected to be available before the end of the year. JT is challenging to enter the Korean HTP market for the first time in three years.
According to the company’s statistics, the product is the latest JT released in 2023, In the first half of the year, “Ploom” Japanese market sales increased by about 36%, and the growth rate exceeds the growth rate of local market demand.
In 2019, JTI Korea launched “Ploom Tech” in an unsuccessful attempt to enter the Korean market, which currently consists mainly of Korean cigarette companies KT&G and Philip Morris International Korea. (PMI) control. KT& has a 45.8% and 20% share of the Korean HTP market, respectively, with British American Tobacco (BAT) accounting for 10.4%.
Sales of traditional tobacco fell 2.8 percent to 3bn packs last year, according to the Ministry of Strategy and Finance. Sales of HTP products increased by 12.6 percent to 610 million packages.
Industry insiders predict that JTI Korea will formulate a more detailed market strategy after its comeback to secure a place in the highly competitive market. “With the re-entry of JTI Korea, the HTP market in Korea will have greater development opportunities,” an industry source said.
