Electronic cigarettes could hit BAT and Imperial Tobacco harder than expected, say analysts | Business | guardian.co.uk

We estimate the e-cigarette market will grow from $2bn in 2012 to $3bn in 2013 (tobacco is approximately $700bn). In the longer term, the total combined market will shrink at a more rapid rate than most investors envisage as e-cigarettes wean smokers off tobacco, but do not attract new users into the overall category. Winners and losers will emerge, but are hard to predict at this relatively early stage in e-cigarettes' development, and there will be margin pressure in the short term across the board as companies race for share. This new uncertainty, and the faster long-term decline of tobacco which we predict, should cause investors to reassess their holdings in the sector.
Another article reiterating what we've known for a while: e-cigs are/will be a pretty big deal for a whole lot of folks ... "winners and losers will emerge", that's for sure!

*cue suspenseful music for vapers, smokers, vendors, stockholders, tobacco companies, pharmaceutical companies and governments everywhere*