E-Cigs: Growing in Popularity
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E-cigarettes: Could they change the tobacco industry forever? After losing market share, Big Tobacco is going into the e-cig business
By Carmel Lobello | April 26, 2013
Sales in cigarettes dropped 6.2 percent in the first quarter of 2012 — a jump from the 3 percent to 4 percent declines they’ve seen in recent years. Meanwhile, sales of e-cigarettes — those battery-powered tubes you see people puffing indoors — have doubled. According to a study by the Centers for Disease Control and Prevention, in 2011, 21 percent of smokers had tried e-cigs, up from 10 percent in 2010. And after making $500 million last year, retail sales of e-cigs are expected to balloon to $1 billion in 2013, says the Wall Street Journal.
– Carmel Lobello is the business editor at TheWeek.com.