Philip Morris International Takes Aim At Korean Slim Market

Philip Morris International (NYSE:PM) has decided to cut the price of Virginia Slims Superslims cigarettes in South Korea.

Philip Morris International Takes Aim At Korean Slim Market

According to Philip Morris International (NYSE:PM), it plans to lower the prices of its Virginia Slims brand in Korea by almost 14 per cent to better compete with other superslim cigarettes.

“The unprecedented price cut reflects our strategy to have a head-to-head battle with Esse, which virtually monopolizes the superslim category,” Philip Morris International (NYSE:PM) said in a statement.

Philip Morris International (NYSE:PM) stocks were at 87.84 at the end of the last day’s trading. There’s been a 13.6% movement in the stock price over the past 3 months.

Philip Morris International (NYSE:PM) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: 1.65
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 1.59
Zack’s Rank: 3 out of 7 in the industry