SINGAPORE (July 23): Philip Morris International has significantly cut its full-year guidance, as it prepares for the next generation of IQOS (I quit original smoking) devices.

The worldwide introduction of the next generation of IQOS devices towards the end of 2018 will require the reduction of current generation device inventories while the ramp-up of new devices is expected to occur in 2019, said Philip Morris.

Investors will likely view Philip Morris’ 2Q earnings read-through as a negative sign for Venture Corp’s FY18 performance.

Philip Morris also intends to launch in October, a new heated tobacco...(click on link for full story on theedgesingapore.com)