]>> One of the world's biggest tobacco companies has announced it expects its revenue from vaping products to double next year to $1.3 billion. British American Tobacco, whose brands include Lucky Strike, Cool, and Dunhill, announcing they expect that sum to multiply five fold over the next five years.
That's still tiny compared to traditional cigarettes, and the company won't break even on the products until next year. But it shows how so-called big tobacco is increasingly looking for alternatives to your grandpa's smoking habit, as more people try to quit. Competitor Phillip Morris saw its share price climb 23% this year after strong sales of its own vaping products.
Although it then fell back another 4% when its profits turned out to be weaker than expected. Again, highlighting its dependence on the Marlboro man. The makers of e-cigarettes say the products carry fewer health risks than other smokes, but long term studies don't exist yet. And one report earlier this year found that they do release chemicals linked to cancer and sometimes in higher concentrations than traditional cigarettes.