Though cigarette consumption is no where near as prevalent as it was in
the last century, the tobacco industry is still raking in massive money.
It made $614 billion in 2009.
Cigarette consumption in the U.S. may be in decline, but according to Citi
this has simply forced tobacco companies like Phillip Morris to find
other markets, mostly in emerging countries like Indonesia and the
Philippines.
China too is a booming market for cigarette consumption, with its size quadrupling since the 1970s.
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