E-Cigarettes: FDA Regulation Looms for $1.5 Billion Industry - Businessweek - 0 views
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booked a trip to China; and began meeting with manufacturers.
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Verleur saw right away that if e-cigarettes could be made as convenient and satisfying as a pack of smokes, he’d make a killing. He enlisted the help of his brother, an engineer working for an Agilent Technologies (A) spinoff; booked a trip to China; and began meeting with manufacturers. In 2009 he formed his company, V2Cigs, with four employees working out of an apartment.
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This article really display the effects of worldwide globalization, a theme we discussed in class. E-Cigs were created in China, but they quickly became a huge part of the US economy through electronic media and industry. Both of these are ways that new inventions can diffuse across the globe. Now many countries are using E-Cigs due to globalization.
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One thing we talked about in class was cheap labor. I find it very interesting that Verleur and his brother immediately thought to manufacture their product in China, almost as if this was the only place TO manufacture it. China provides very cheap labor for US companies and E-Cigs are probably not that expensive to ship, so they would save a lot of money.
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commercially marketed device was created by a Chinese pharmacist, Hon Lik, and introduced to the Chinese market as a smoking cessation device in 2004.
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iny fraction of what Americans spend on tobacco, but it’s pretty solid for an industry that barely existed five years ago.
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An article discussing how the E-Cigarette industry is quickly growing and diffusing around the world.
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Interesting choice of article Ally. I like how it show the production of the e cigarettes spreading all around the world, even to china, which shows globalization. Good Job!!
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I think that it's very interesting how he moved to China immediately to build and produce his product. It must have had several appealing characteristics, perhaps cheap labor, resources, or less strict regulations. I wonder if the tobacco industry will try to combat e-cigs to protect their profits, maybe even by leading research on the effects of inhaling the nicotine vapors.
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I Think that it was interesting that hey immediately thought to produce it in China. I have seen many start up businesses that was to get to manufacturing in China because it will cut down their production cost and it will increase their profit which is the goal of the business.
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I was surprised to read that globally, cigarettes earn more than a half trillion dollars in sales annually because I thought the amount would be much less. With the rise in popularity of E-Cigerattes, the markets, as well as the inputs for cigarettes is likely to decline. In addition, I find it very interesting that the product, after improving it with access to technology and knowledge in the U.S., is produced in China. This is probably due to the cheap labor force, as well as the large amount of land available to produce the product, for production near urban and suburban areas could spark debate with health problems.
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After reading Danyelle's article and the one we read in class, I wonder if the increase in Chinese wages will have an impact on the industries which produce the e-cig. If the factor of cheap labor is taken away, but available somewhere else, how will that shift the distribution and manufacturing of the cigarettes.
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An article discussing how the E-Cigarette industry is quickly growing and diffusing around the world.