Commenting on a few comments - Remember that the tobacco industry is old and cantankerous; they move in ultra slow speed compared to anything tech related. This is evident in any industry; slow to adopt. That said BT is waking up, and realize that there is a market for non cigarette products if the explosion of Snu's are any indication. They are employed by intelligent human beings like you and I, so I suspect (though cannot confirm myself) that they are paying very close attention.
I think that they are waiting on the sidelines, but for financial reasons. If they were to take on this newly emerging market right now, they would have to grease palms, and fight legal battles with the ilk of the FDA, as well as correct the thinking of the "masses". All of these activities would eat into the ever important bottom line. Since it is still new and underground, and is quasi-legal there is no safe predictions on how viable the market will be in 5, 10 and 20 years (for now). That's another strike to jump in. I have thought about BT expanding their business into new revenue streams, but it appears that the safest one is not vaping, but third world countries. As of yet their established source of revenue in the West has not been inundated to the potential it could be in the emerging markets of the third word countries of the world. Good Safe Bet, right? No bans on smoking, little to no bans on advertising, and our dollar really has some buying power. Yes, you can find major brands for sale, but not saturated like they are here.
To Kevin and banjo's point - I think they ARE sitting in the background watching with very rapt attention waiting for us to pass or infant hurdles and explode. Then it will be time to swoop in and introduce their very refined products (having learned the balance of great product/cost from early adopters) and ad campaigns to thoroughly capture this market too.