The new design is also approximately 50% and 30% cheaper than Iqos Iluma and Iqos Iluma Prime respectively, yet just like these previous models, the Iqos Iluma One, features ‘Smartcore Induction Technology,’ eliminating the need for tobacco sticks to be inserted and the necessity for user cleaning. The new product, also reduces toxicant levels by 95% compared to traditional cigarettes.
The Korean market
Meanwhile, a 2021 market report of South Korea’s vape market has highlighted that the country’s smoking rates have been decreasing due to an increase in use of safer nicotine alternative products.
Titled, “Market Report: South Korea – A Slight Rise for E-Cigs as Smoking Falls Further”, the report has been added to ResearchAndMarkets.com’s archive. While the report indicated a decrease in smoking rates in parallel to an increase in the use of safer smokeless tobacco alternatives, it highlighted that pending bills could negatively affect the market.
The report revealed that vape imports and exports were projected to drop in 2021, adding that China is the most crucial import market, and Russia the main export destination. Given that in South Korea online sales of e-liquids are banned, brick and mortar vape stores remain the main points of sale for the products.
A few years back, South Korea was one of the world’s fastest-growing markets for e-cigarettes, attracting attention from major international makers such as Juul Labs. However, following a 2020 government urging the public to refrain from vaping, the industry was hit when major convenience store chain GS25 halted the sales of flavoured vaping products by Juul Labs and South Korean company KT&G.
Read Further: The Korea Herald