I think they are trying to jump on the boat too late. They can see their profits falling year on year and must by now realise it is due in some part to the E-cig market.
But....they`ve come to the party too late, unless they can come up with something really inovative and unseen so far or can compete on price directly with the Chinese (both highly unlikely!) then they will be just another company marketing the (basically ) same products as everyone else.
By now there are established forums and I think enough people vaping to influence and educate the public, it`s not an underground movement with 1.3million vapers and rising

and I see more and more vapers every day, in fact I`ve taken to carrying around a basic starter kit as I have so many people ask about it and have started 10 people vaping in the past two weeks (not by actively seeking out smokers!!!! and preaching, just by spending a couple of minutes answering questions from the curious

)
The only dark cloud on the horizon is the possible future regulation and that is the only reason BAT want to jump on board! They can see a chance in a highly regulated market, in an open market they are just another small fish in a very big pond and unless they can do either of the two above (inovate or undercut) then they lose.
Isn`t it curious how BAT hav`nt been interested in the market until the possibility of regulation has become very real? They have had since 2004 but obviously under estimated the threat to their profits as E-cig use has increased and cut into their market.