Philip Morris International, Inc. is a Virginia holding company incorporated in 1987. The Company's subsidiaries and affiliates and their licensees are engaged in the manufacture and sale of cigarettes and other tobacco products in markets outside the United States of America. Its portfolio comprises both international and local brands. Its portfolio of international and local brands is led by Marlboro. It also owns a number of important local brands, such as A Mild, Dji Sam Soe and A Hijau in Indonesia, Diana in Italy, Optima and Apollo-Soyuz in Russia, Morven Gold in Pakistan, Boston in Colombia, Belmont, Canadian Classics and Number 7 in Canada, Best and Classic in Serbia, f6 in Germany, Delicados in Mexico, Assos in Greece and Petra in the Czech Republic and Slovakia. It has the cigarette market share of at least approx 15%, and, in a number of instances substantially more than 15%, in approximately 97 markets, including Algeria, Argentina, Australia, Austria, Belgium, Canada, Colombia, the Czech Republic, Finland, France, Germany, Greece, Hungary, Indonesia, Italy, Japan, Kazakhstan, Mexico, the Netherlands, the Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Serbia, Singapore, Spain, Sweden, Switzerland, Turkey and Ukraine. Its products are advertised and promoted through various media and channels, including, where permitted by law, point of sale communications, brand events, access-controlled Web sites, print, new digital technologies and direct communication to verified adult smokers. It is subject to highly competitive conditions in all aspects of its business. It competes primarily on the basis of product quality, brand recognition, brand loyalty, taste, innovation, packaging, service, marketing, advertising and price. Its competitors include three large international tobacco companies and several regional and local tobacco companies and, in some instances, government-owned tobacco enterprises, principally in China, Egypt, Thailand, Taiwan, Vietnam and Algeria. It purchases tobacco leaf of various grades and styles throughout the world, the majority through independent tobacco dealer. None of its business segments are dependent upon a single customer or a few customers. The Company's business segments are not significantly affected by seasonality, although in certain markets cigarette consumption trends rise during the summer months due to longer daylight time and tourism. The Company is subject to applicable international, national and local environmental laws and regulations in the countries in which they do business.