Marlboro Maker to Enter E-Cigarette Market

by Nate Wooley | April 26, 2013 12:27 pm

altria mo stock dividend[1]Altria Group (NYSE:MO[2]) is finally bringing out its own e-cigarette.

The tobacco company — which owns the Marlboro brand as well as others — says it plans to have its version of the popular new product out in the second half of 2013, the Wall Street Journal reports.

E-cigarettes are a growing market for tobacco firms. After selling $500 million worth of them in 2012 — about 0.5% of the total market — sales are expected to more than double in 2013. The devices — typically powered by batteries — heat up nicotine-infused liquid to deliver the chemical to smokers and may be less harmful than traditional cigarettes.

Altria is late to the market. Rivals Lorillard (NYSE:LO[3]), which last year acquired Blu Ecigs, and Reynolds American (NYSE:RAI[4]), with its Vuse e-cigarette, are already established sellers.

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