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Merger collapse spurs Philip Morris to expand Asia presence

E-cigarette maker looks to gain from global crackdown on vaping

Philip Morris International, which launched its latest e-cigarette device in Tokyo on Sept. 25, estimates that there are already around 11 million users of its Iqos "heat-not-burn" product globally.

TOKYO/SINGAPORE -- As Philip Morris International called off its proposed $200 billion merger with Altria on Sept. 25, the company continued to press its advantage in Asia with the rollout of its flagship electronic cigarette.

Unveiling the latest version of its Iqos device in Japan, with launches planned in other Asian markets later this year, Philip Morris appears to have the jump on vaping rival Juul, in which the U.S-based tobacco giant Altria took a 35% stake worth nearly $13 billion last year.

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