With U.S. cigarette sales declining, Philip Morris parent Altria Group Inc. plans to sell more smokeless tobacco and so-called "reduced risk" tobacco products, the Associated Press reported May 28.

"As the company looks to the future, it has clear recognition of the fact that conventional cigarettes are harmful in society and we'd like to make some progress on improving that situation," said Altria CEO Michael Szymanczyk at a recent shareholders' meeting.

Szymanczyk said that the company will seek to leverage its Marlboro brand in non-cigarette market segments as Altria seeks to offset a projected 2.5-3 percent decline in U.S. tobacco sales. Altria already has test-marketed a Marlboro brand of moist smokeless tobacco and a moist powdered tobacco called Marlboro Snus.