KT&G increases HNB price

| January 10, 2018

South Korea’s largest tobacco maker, KT&G, said today it would increase the price of Fiit, the consumable element of its heat-not-burn (HNB) device Lil, from next week, according to a story in The Korea Herald.

Fiit, a tobacco-filled stick that is used with Lil, was launched at 4,300 won ($4) a pack in November.

The company said the price of Fiit would be increased to 4,500 won a pack, reflecting a recent increase in the individual consumption tax imposed on HNB products and other levies, such as a health promotion fee.

Philip Morris increased the price of Heets, the tobacco stick used with its iQOS HNB device, to 4,500 won last month. It cited similar reasons.

The Herald reported that Fiit sticks were sold in two types, Change and Change up, with the latter offering a fruitier flavor than the former. Both used KT&G’s ‘signature flavor-changing capsules’.

‘Since its November release, Lil has garnered popularity among smokers for its reasonable price, recording sales of 50,000 devices within a month, as of the end of December,’ the Herald said.

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Category: Breaking News, Next-generation products, Tax, Vapor

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