E-cigarettes have been heralded as a potential savior for a tobacco industry desperate for new products and customers in the face of a shrinking number of smokers and punitive damages such as the $23.6 billion awarded by a Florida jury last week.

But it turns out that regular smokers prefer the real thing.

“There is consumer dissatisfaction with the product, which leads to high levels of rejection” said Vivian Azer, tobacco and beverages analyst at Cowen & Co. in New York. “Consumers are willing to try the product, but they are not satisfied.”

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