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The company has not disclosed specific International rollout timelines or markets but is expected to pursue a mix of partnerships, distribution models and category-focused launches as part of its expansion strategy

A pack of Marlboros costs about $2 in India, but $16.23 in Australia

In its annual reports, Philip Morris International boasts a high rate of conversion to IQOS, estimating that about 70 percent of its users have switched completely (defined internally as using heated tobacco for at least 95 percent of their consumption)

Reynolds is in talks to acquire Lorillard, which has a market capitalization of $22.9 billion, in a deal that would reshape one of the worlds most profitable tobacco markets