Philip Morris will quit cigarettes for good but wants you to try a new kind of smoking

MANILA, Philippines — The world’s most successful cigarette company has announced it is moving away from selling cigarettes, as it also promotes a new smoking device that it claims could cut the risk of tobacco-related diseases.

In a statement dated June 6, New York Stock Exchange-listed Philip Morris International Inc. (PMI) said it is replacing cigarettes with “smoke-free” products because “we now can.”

PMI, which has a market capitalization of $120 billion, said it has conducted independent research on its electrically heated tobacco products that are marketed as “IQOS,"' which the company described as the “most advanced smoke-free alternative in our portfolio."

“We understand the millions of men and women who smoke cigarettes. They are looking for less harmful, yet satisfying, alternatives to smoking. We will give them that choice,” PMI said.

“Success in the cigarette business gives us the resources to pursue our ambitious vision,” it added.

A day after PMI’s announcement, Reuters reported that the tobacco giant is planning to sell IQOS in India.

Early this year, PMI’s bid to market IQOS as being less risky than cigarettes reportedly hit snags after US health advisers rejected PMI’s claims about its "heat-not-burn" product.

Six of the world's top international 15 tobacco brands, spanning more than 180 markets, are owned by PMI, including Marlboro.

The World Health Organization estimates there will be more than one billion smokers in 2025, roughly the same number as today.

During last month’s celebration of World No Tobacco Day, PMI actively campaigned for smoke-free alternatives to cigarettes. — Ian Nicolas Cigaral