Although Delen acknowledged Tuesday that there's growing consumer interest in e-cigs, "what we see is very high levels of trial and relatively low levels of conversion."
He said that indicates to Reynolds that adequate e-cigarette products "have not actually been deployed in the category yet. So that's really where a lot of our focus and efforts are our focused."
Delen said new smokeless products are the latest step of Reynolds' evolution into what it is calling "a total tobacco company."
"We're offering a broader range of products at different price points, in line with changing trends in the preferences of adult tobacco consumers and in societal expectations," Delen said.
Those products include Camel Crush menthol-capsule cigarettes; Camel Snus, a moist snuff product; and dissolvable Camel chew sticks, orbs and film strips for the tongue.
"In line with our long-term strategy to transform the tobacco industry and reduce the harm caused by smoking, our companies have been hard at work on developing a pipeline of new smokeless and other product innovation," Delen said.
"We believe there is significant growth potential in these new product formats, and we believe that our expertise and proprietary technology will give us a competitive edge."
