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Daily News on Vape Industry August 5th, 2024


2024-08-05
  1. The U.S. Food and Drug Administration (FDA) issued warning letters to five online retailers for selling unauthorized disposable vapes, including brands such as GeekBar, LostMary and Bang. The agency specifically pointed out that the sales of Chinese vapebrand GeekBar have surged, posing a potential risk of attracting teenagers.

 

  1. Japan Tobacco’s operating income in the second quarter of 2024 increased by 14% year-on-year to 829.6 billion yen (about US$5.58 billion); net profit increased by 3.9% year-on-year to 147.9 billion yen (about US$1 billion). For the six months so far this year, operating income increased by 12.7% to 1569.9 billion yen (about US$10.6 billion) compared with the same period in 2023; net profit of 305.2 billion yen (about US$2.05 billion) increased by 6.3% year-on-year.

 

  1. This week, the Indian Revenue Intelligence Department (DRI) seized 10,540 illegal vapesworth 15.5 million rupees ($185,000) in a second raid in Jaipur. These products were suspected of being smuggled from Dubai and China.

 

  1. The Singapore Health Sciences Authority announced that 3,279 people were caught on the spot for using or possessing vapesin the second quarter of this year. Compared with 2,240 people in the first quarter, the second quarter increased by 46%. A total of more than 5,500 people were arrested in the first half of the year. According to Singapore’s Tobacco Act, importing, distributing or selling vapesis illegal.

 

  1. The Irish Minister of Finance hinted that the introduction of vapetaxes “will likely” be implemented in the 2025 budget, and the tax rate may be gradually increased in the next few years, and the specific tax rate is subject to negotiation. In addition, the sales of disposable vapesin Ireland in the first four months of 2023 have significantly exceeded the full-year sales in 2022.

 

  1. The Royal Borough Trading Standards Agency in the United Kingdom filed a lawsuit against a store for selling illegal vapes. The charges involved product requirements and product labels. Among the seized products was the vapebrand “LOSTMARY”. The court sentenced it to pay a total of £4,727 in fines and costs, and ordered it to be confiscated and destroyed.