The Niš Tobacco Factory was established in 1930 as a part of the state tobacco monopoly at its present location in Crveni Krst neighborhood of Niš.

[3] During the 1990s, Niš Tobacco Factory had 3,500 employees and had tens of thousands cooperators in former Yugoslavia.

[5][4] Niš Tobacco Factory was sold to Philip Morris in August 2003 for €518 million.

In 2012, the workers union protested, alleging that Philip Morris has failed to transfer €387 million to the Government of Serbia and also significantly reduced production.

[4] As of 19 December 2018, Philip Morris Operations has a market capitalization of 97.20 million euros.