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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