Big Tobacco Takes a Hit Due to E-Cigarettes
Electronic Cigarettes are a $500 million business in the United States. The tobacco industry takes in roughly $100 billion in revenue each year. The e-cigarette movement, however is fast growing. With consumers becoming more health and green conscience, the tobacco industry is feeling the pain. One of the largest tobacco companies felt a 3.9 percent drop off in shares on Wall Street last month due to a decline in sales in the first quarter.
The company sees the impact electronic cigarettes are having and is investing $135 million in the electronic cigarette market. They hope to get e-cigs into the big box chains including Walmart and capitalize on the new market.
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