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Jan. 28, 2020, 7:15 p.m. EST

Philip Morris signs deal with vape maker from South Korea

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By Jeremy C. Owens
PM MO

Philip Morris International Inc. /zigman2/quotes/201611010/composite PM +1.21% announced an agreement with a South Korean manufacturer of vaporizer equipment Tuesday evening that will allow it to distribute the company's products outside of South Korea. KT&G sells products that vaporize traditional tobacco as well as e-liquid under the brand name "Lil" in South Korea. Philip Morris said Tuesday that it will expand the products - which include Lil Mini, Lil Plus and Lil Vapor - to other countries, but it does not currently plan to commercialize the products in the U.S. Philip Morris sells the IQOS brand of vapes in the U.S., while rival Altria Inc. /zigman2/quotes/208895754/composite MO +1.78% has invested in U.S. vape startup Juul Labs Inc.

/zigman2/quotes/201611010/composite
US : U.S.: NYSE
$ 76.31
+0.91 +1.21%
Volume: 3.83M
Sept. 28, 2020 4:00p
P/E Ratio
16.35
Dividend Yield
6.29%
Market Cap
$117.42 billion
Rev. per Employee
$382,519
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/zigman2/quotes/208895754/composite
US : U.S.: NYSE
$ 38.95
+0.68 +1.78%
Volume: 8.00M
Sept. 28, 2020 4:02p
P/E Ratio
N/A
Dividend Yield
8.83%
Market Cap
$71.12 billion
Rev. per Employee
$2.36M
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