According to a report by N.News on December 30th, KT&G, a South Korean tobacco company, plans to launch a new heated tobacco product (HTP) by 2025.
According to industry sources in the tobacco industry, KT&G is currently preparing to launch a new HTP product by 2025. A spokesperson for KT&G revealed, "Pod products will be released irregularly, but devices are typically updated every one to two years." KT&G had previously announced their plans to launch new products at their third quarter earnings conference in November of last year.
However, KT&G did not clarify whether the new product is a completely new device or an upgrade of one of its existing three devices. The three devices currently sold by KT&G in the Korean market include "Lil Hybrid 3.0", "Lil Able 2.0", and "Lil Solid 3.0". The most recent product launch was in September 2024, when the upgraded version of "Lil Solid 2.0" called "Lil Solid 3.0" was introduced.
In preparation for the launch of new products next year, KT&G is also adjusting the inventory of its existing products. During a conference call in November, KT&G explained that the stagnation in sales growth of pod products in the third quarter was due to the impact of inventory adjustments for the launch of new products next year.
KT&G emphasized that, "Once the new product is launched, sales are expected to return to normal and may even bring additional growth.
An industry expert analysis shows that KT&G is maintaining its leading position in the heated tobacco market through its new product plans. According to convenience store data, KT&G held a 48% market share in heated tobacco sales last year, a slight increase from the previous year's 46%, ranking first. Philip Morris International (PMI) followed closely with 41%, while British American Tobacco (BAT) held 11%. Despite KT&G retaining its top spot, the gap with PMI is narrow, and competition in the market is intensifying with the entry of Japan Tobacco International Korea (JTI Korea).
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