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JULIE HYMAN: Jacek, this it's Julie here. I

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tulla236a   Monday, 03/01/21 02:20:16 PM
Re: cav5312 post# 39121
Post # of 45939 
JULIE HYMAN: Jacek, this it's Julie here. I want to ask about IQOS and the growth of that product, which is a higher margin product for you. So I guess that explains part of the expansion margins you were talking about. How do you convince users that it's safe? And not only existing cigarette smokers who might be switching, but in particular, people who might be adapting or starting on these products for the first time.

JACEK OLCZAK: Well, actually in our marketing efforts, we very much focus on smokers and adult smokers. And that product is safer than the combustible cigarettes. Obviously, if you are not a smoker, our advice is, you shouldn't start any of the nicotine product. So we have to be very clear where, you know, which target audiences, which audience are we are we targeting.

But I am pleased that by the year end last year, we already have a more than a 17 million users worldwide who essentially has left the combustible smoking behind them. Otherwise, they would continue smoking, and this is exactly product for them. We launched IQOS in 64 markets. We enlarged our geographical footprint, despite the COVID challenges.

And as we had the Investors Day about the two weeks ago, we have announced that by 2025, 50% of our revenues should come from a noncombustible nicotine products and we should be in 100 markets. So it's a really transformations in Philip Morris International at the global scale, and we're working at very, very high speed

JULIE HYMAN: And so that kind of conversion that you're talking about for existing smokers to transition over to IQOS, if you are saying to potential new smokers, don't take it up at all no matter what product you're talking about, I mean, doesn't that, we're not talking about the short term, but eventually, doesn't that mean basically a collapse in the business?

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