It's Not a Cigarette. It's Not a Vape. And It's Big in Japan.

The first time I saw an IQOS, the innovative tobacco product on which Philip Morris International is betting billions of dollars to replace cigarettes, was at a wedding in 2016. A friend had excitedly pulled me outside to try this new device that had enabled him to finally kick his smoking habit. Not quite a cigarette because it didn't ignite, not quite a vape because it used actual tobacco, supposedly less toxic than conventional cigarettes but satisfying enough to compete with them, it seemed that this heated tobacco might be the future of nicotine.