LONDON, Sept 28 (Reuters) - Philip Morris International (PMI) on Thursday signalled <br>
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a slower than anticipated U.S. roll out of its IQOS heated tobacco <br>
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device, a choice analysts said was positive for its competitors <br>
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in the short term.<br>
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The New York-listed Marlboro maker also said it aims for more than two <br>
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thirds of its net revenues where to buy terea in thailand - http://wiki.Rumpold.li/index.php?title=Definitions_Of_Iqos_Ilumai_One come from <br>
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"smoke-free" products by 2030, up from 50% in 2025, <br>
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as it tries to transform its image from a cigarette purveyor to a driver of the shift to healthier alternatives.<br>
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Investors have been closely watching IQOS' entry into the U.S., the world's largest market for nicotine products,<br>
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and had been expecting it from May 2024 next year.<br>
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Reuters reported on Wednesday that PMI is hiring lobbyists across <br>
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a host of key U.S. states ahead of the launch.<br>
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Chief Executive Jacek Olczak said IQOS would launch in four cities in two unnamed <br>
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U.S. states from 2024, but a national launch would only come after PMI receives approval to sell the latest version, known as IQOS ILUMA.<br>
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The company was planning to apply for approval in October and expected it from 2025, he continued.<br>
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"We need to warm up the tyres," he said of the initial launch, <br>
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which would help PMI fine tune its approach.<br>
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A national roll-out of ILUMA would follow but in phases, he continued,<br>
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adding launching in 10 states in the first year would make sense.<br>
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Meaningful traction for PMI's heated tobacco products in the U.S.<br>
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"now looks delayed until ILUMA," Owen Bennett, equity <br>
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analyst at Jefferies, said in a note, adding this was a positive for PMI's rivals.<br>
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Olczak also signalled that PMI's push into non-nicotine products was no longer a priority.<br>
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It recently scrapped an ambition for $1 billion in net revenues <br>
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to come from sales of such products by 2025.<br>
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Instead, PMI will focus its resources on IQOS and nicotine pouch brand ZYN, Olczak said, adding it had been too optimistic around acceptance of big tobacco companies operating outside of nicotine.<br>
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PMI also announced updated medium-term targets including for <br>
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revenue and earnings per share, and ambitious volume targets for IQOS and ZYN.<br>
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ZYN and other oral nicotine products in the U.S.<br>
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would help drive an expected $2 billion in revenues there in 2024, even before <br>
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IQOS ILUMA, executives said.<br>
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PMI shares were up 1.5% on Thursday. (Reporting by Emma Rumney <br>
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in London and Granth Vanaik in Bengaluru; additional <br>
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reporting by Ananya Mariam Rajesh in Bengaluru; Writing by Emma Rumney; Editing by Elaine <br>
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Hardcastle and Josie Kao)
LONDON, Sept 28 (Reuters) -