The South Korean unit of Philip Morris International Inc. said Friday it will jack up the price of its heat-and-burn electronic cigarette by nearly 4.7 percent next week.

The per-pack price of HEETS, the tobacco units used with its electronic tobacco heating device IQOS, will go up to 4,500 won ($4.13) starting Wednesday, a 4.65 percent increase from the current 4,300 won.

The envisioned price raise is to reflect a recent jump in the individual consumption tax imposed on heat-and-burn products and an expected increase in other levies, the company said.