Philip Morris International's Presentation at CECP CEO Investor Forum 2023
Philip Morris International Inc. (PMI) is set to deliver a presentation and Q&A session at the CECP CEO Investor Forum 2023. The event, scheduled for November 14, 2023, will feature PMI's Chief Executive Officer, Jacek Olczak. The presentation will be available via a live video webcast on PMI's website, and the slides will also be accessible through the same link. Additionally, the webcast can be accessed on mobile devices by downloading PMI's Investor Relations App.
Philip Morris International is a leading international tobacco company that is actively working towards a smoke-free future. The company has been investing in the development and commercialization of innovative smoke-free products, with the goal of completely ending the sale of cigarettes. PMI's current product portfolio includes cigarettes and smoke-free products. In 2022, PMI acquired Swedish Match, a leader in oral nicotine delivery, further strengthening its position in the smoke-free market.
As of September 30, 2023, PMI's smoke-free products were available in 82 markets, with approximately 19.7 million adults having already switched to their IQOS product and stopped smoking. Smoke-free products accounted for around 36.2% of PMI's total net revenues in the third quarter of 2023.
With a focus on expanding into wellness and healthcare areas, PMI aims to enhance life through the delivery of seamless health experiences. For more information, please visit PMI's official website.
Implications of Philip Morris International's Smoke-Free Future for New Businesses
Philip Morris International's (PMI) presentation at the CECP CEO Investor Forum 2023 paints a clear picture of the company's strategic shift towards a smoke-free future. This move, which includes the development and commercialization of innovative smoke-free products, could have significant implications for new businesses in the tobacco industry and beyond.
Transforming the Tobacco Industry
PMI's commitment to ending the sale of cigarettes and focusing on smoke-free products represents a transformative shift in the tobacco industry. For new businesses, this signals a need to adapt to changing consumer preferences and regulatory landscapes.
Expanding into New Markets
PMI's acquisition of Swedish Match and its expansion into wellness and healthcare areas demonstrate that diversification can be a viable strategy for growth. New businesses can take inspiration from this and consider exploring untapped markets or sectors.
PMI's investment in the development of innovative smoke-free products underlines the importance of innovation in business growth and survival. New businesses should therefore prioritize research and development to stay competitive.
In conclusion, PMI's strategic shift towards a smoke-free future and diversification into new markets provide valuable insights for new businesses on the importance of adaptability, market exploration, and innovation.