- Business
- Philip Morris International Inc. is a global tobacco and nicotine company that develops, manufactures and markets cigarettes, smoke-free products and related consumer offerings under brands including Marlboro, IQOS, ZYN and VEEV; the company was founded in 1987 and is headquartered in Stamford, Connecticut, with operational headquarters in Lausanne, Switzerland. Its core business is organized around combustibles and reduced-risk products, including heated tobacco systems, nicotine pouches, e-vapor products, oral nicotine products, and consumer accessories, with sales across the United States and international markets. PMI has continued to expand its smoke-free portfolio, and in 2025 and 2026 it launched and broadened ZYN offerings, including ZYN ULTRA and additional flavors, while also advancing IQOS commercialization in the U.S., including sales of IQOS 3.0 in Austin, Texas. The company’s latest strategic changes also include a reorganization of its reporting structure into International Smoke-Free, International Combustibles and U.S. segments effective January 1, 2026, alongside a broader Value Plan 2030+ focused on accelerating smoke-free growth and adjacent wellness opportunities. PMI’s smoke-free business now represents a significant share of net revenue and is available in multiple markets worldwide, reflecting the company’s ongoing shift toward products intended to replace conventional cigarettes.