How our business is evolving
Our portfolio primarily consists of cigarettes and smoke-free products, including heated tobacco, e-vapor and oral smokeless products.
As of October 21, 2026 smoke-free products represented > 40% of our total net revenues. By 2030, our ambition is to increase this to over two-thirds, with the ultimate goal of phasing out cigarettes completely.
Our scientific expertise, technology and commercial capabilities support the evolution of our portfolio and the development of new products in wellness and healthcare.
Our smoke-free portfolio
We are growing our portfolio of smoke-free products, providing better choices for adult smokers. These products are addictive and not risk-free, and are only for adults who would otherwise continue to smoke.
Discover our smoke-free products
What exactly are smoke-free products?
Understand how smoke-free product categories differ from cigarettes and why eliminating combustion is important.
Interviewer asks:
There's a lot of confusion around smoke-free products.
What are they?
Are they really less harmful than cigarettes?
And why are governments banning them completely?
There's a lot to unpack, but let's begin with what a smoke-free product is.
Nevena Crljenko, Vice President, Scientific Engagement, Philip Morris International, replies:
Smoke-free products are very different products than cigarettes are.
The most known tobacco product in the world.
Cigarettes are lit and burned. And the smoker inhales the smoke.
Smoke contains thousands of chemicals, many of which are harmful.
Your body is exposed to them and over time it develops into the disease.
So the first principle we developed was let's eliminate the burning process.
We can eliminate the burning process by a couple of things.
We can control the temperature in terms of how we heat tobacco but not burn it.
That's heated tobacco products.
We can heat the liquid which contains nicotine.
This is e-vapor product (e-cigarettes).
Or we can create oral products such as nicotine pouches, which basically are not warmed at all.
But the key component, irrespective of how different these products are, is that they do not contain the burning,
which is the main source of smoking-related diseases.
Our progress toward a smoke-free future as of Q3 2026
*As of Q3 2026. **As of December 31, 2025. Important note: This information should be read in conjunction with the Philip Morris International Inc. earnings release dated October 21, 2026, as well as the accompanying glossary of key terms, definitions, explanatory notes, select financial information and reconciliations of non-GAAP financial measures, both of which are available on our Investor Relations page. “PMI,” “we,” “our,” and “us” refers to the entire Philip Morris International family of companies.
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From company information and sustainability to careers and our smoke-free portfolio, we answer frequently asked questions.