Case 1:20-cv-00393-LMB-TCB Document 1406-3 Filed 08/12/22 Page 1 of 4 PageID# 35091
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`Exhibit 3
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`Case 1:20-cv-00393-LMB-TCB Document 1406-3 Filed 08/12/22 Page 2 of 4 PageID# 35092
`Bluehole Publishes an Industry Comment on Vuse Overtaking Juul and Becoming the U.S Vaping Market Champion Again | Business Wire
`8/9/22, 14:24
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`Bluehole Publishes an Industry Comment on Vuse Overtaking
`Juul and Becoming the U.S Vaping Market Champion Again
`
`https://www.businesswire.com/news/home/20220512005478/en/Bluehole…vertaking-Juul-and-Becoming-the-U.S-Vaping-Market-Champion-Again
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`Page 1 of 3
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`Case 1:20-cv-00393-LMB-TCB Document 1406-3 Filed 08/12/22 Page 3 of 4 PageID# 35093
`Bluehole Publishes an Industry Comment on Vuse Overtaking Juul and Becoming the U.S Vaping Market Champion Again | Business Wire
`8/9/22, 14:24
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`(Photo: Business Wire)
`May 12, 2022 05:47 AM Eastern Daylight Time
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`SHENZHEN, China--(BUSINESS WIRE)--China’s leading vaping media, Bluehole New Consumption, today
`publishes an industry comment on Vuse overtaking Juul and becoming the U.S vaping market champion again.
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`Here below is the full article:
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`According to Nielsen, for the two weeks ended April 9, 2022, Vuse has surpassed Juul and become No.1 in U.S.
`e-cigarette sales with a market share of 35 percent, driven by the sale of its flagship product Vuse Alto, which
`represented over 90% of Vuse revenues in the U.S. in 2021. Being back on top in the U.S market has
`strengthened Vuse's global leadership.
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`It is another milestone for Vuse to be the U.S top-selling vaping brand again, since Juul overtook it in 2017. Juul,
`the emerging brand founded in 2015, had already captured a massive 68% share of the US vaping market within 3
`years while Vuse's market share had reduced to 10% from 44.2% in 2016.
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`In order to turn the tide in the competition against Juul, Vuse had started searching for a new manufacturer and
`atomization technology provider on a global scale, and considered introducing a game-changing product. In 2018,
`Vuse entered into partnership with FEELM, the flagship atomization tech brand belonging to SMOORE and soon
`launched Vuse Alto in August.
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`In contract to Juul, which mounts traditional cotton coil, Vuse Alto provides a revolutionary vaping experience by
`adopting FEELM ceramic coil, and Vuse also started swinging momentum in its favor. Since 2019, Vuse's US
`market share has rocketed, with Vuse Alto becoming one of the most popular vaping products worldwide. In 2021,
`Vuse announced to be No.1 global vaping brand and reached a full year value share of 33.5% in the top five vapor
`markets (the U.S, Canada, France, Germany and the UK), which account for approximately 75% of total industry
`vapor revenue (closed-system). In the US market, Vuse’s US value share reached 35.9% in December 2021. It has
`managed to close 27% value share point gap in just 2 years, with only 0.1% difference with Juul (36%).
`
`Equipped with an industry-leading ceramic coil, Vuse Alto brings a consistently smooth vaping experience and
`boasts a long-lasting pod with extraordinary leakage-proof performance. Moreover, due to the authentic flavor
`reproduction of FEELM ceramic coil, Vuse Alto features a full-bodied, rich taste of tobacco and menthol. It
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`https://www.businesswire.com/news/home/20220512005478/en/Bluehole…vertaking-Juul-and-Becoming-the-U.S-Vaping-Market-Champion-Again
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`Page 2 of 3
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`Case 1:20-cv-00393-LMB-TCB Document 1406-3 Filed 08/12/22 Page 4 of 4 PageID# 35094
`Bluehole Publishes an Industry Comment on Vuse Overtaking Juul and Becoming the U.S Vaping Market Champion Again | Business Wire
`8/9/22, 14:24
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`becomes an increasingly prominent competitive edge, especially after the U.S FDA banned e-cigarettes with
`flavors other than tobacco and menthol in February 2020, to address youth vaping epidemic. Meanwhile, Juul has
`been stuck in youth marketing controversy and faced mounting state lawsuits in the US.
`
`In October 2021, the FDA has issued first marketing granted orders to Vuse (Solo), recognizing the public health
`benefits of Vuse products, particularly for addicted adult smokers seeking for switchover. Later in April 2022, the
`FDA has approved NJOY Ace for sale. This latest approved product is also powered by FEELM atomization
`technology, thereby reaffirming the harm reduction potential of this ceramic coil. Moreover, Vuse Alto shares the
`same FEELM atomization technology with NJOY Ace.
`
`To read the original article, please visit: https://bluehole.com.cn/news/detail/49834
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`https://www.businesswire.com/news/home/20220512005478/en/Bluehole…vertaking-Juul-and-Becoming-the-U.S-Vaping-Market-Champion-Again
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