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By the early 1970s, RJ Reynolds and Philip Morris knew of a market for low-nicotine cigarettes, especially for smokers who want to quit. 3 A 1987 Philip Morris analysis identified this market as having the highest potential for growth, with concern for a less enjoyable product which will be easier to give up, and finally quit. 3 Philip Morris estimated the potential market share of a free standing de-nicotinised cigarette brand at 1.5% to 2% or 912 billion units. 3 In the 1990s, Philip Morris released reduced-nicotine cigarettes (e.g., Benson & Hedges De-Nic, Next, Merit De-Nic), 4 yet failed to promote them as safer

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Philip Morris International, which was separated from New York-listed Altria (MO) in 2008, has invested $8 billion and hired dozens of scientists and technicians to develop lower-risk alternatives to cigarettes, including its flagship IQOS product, which heats rather than burns tobacco