According to N.EWS reported on January 3, South Korea’s secondary battery protection circuit technology company ITM Semiconductor Co. Ltd (hereinafter referred to as “ITM Semiconductor”) announced that it has signed a service contract with Korea Tobacco (hereinafter referred to as “KT&G”) for the development of new vaping. According to the contract. ITM Semiconductor is expected to supply KT&G with four equipment models including export strategy models by 2025, in addition to the Lil Hybrid, which is currently in mass production.
The newly developed vape device model is for export only, and if mass production is carried out as planned, additional sales are expected in the second half of 2025. ITM Semiconductor expects its vape sales to grow more than twice as fast as in 2024.
During the contract period, multiple stages of development verification, trial production verification, and mass production verification will be carried out, with mass production scheduled to begin in 2025 and large-scale supply by 2026.
Baek Cheol-Seung, head of ITM Semiconductor Future Business Team (백철승), said,
- “At present, the global vape market is growing rapidly, and we are ready to supply products to customer companies promptly.” “In the future, we will establish a system that can produce diversified vapes through continuous technology development.”
ITM Semiconductor, founded in 2000, is a South Korean company that produces mobile phone battery protection circuits. In 2022, the company began manufacturing vape devices and bombs, and it has also expanded into the defense industry due to the recognition of its large battery technology.
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