Ispire Technology designs and sells vaping hardware for two markets: nicotine (e-cigarettes) and cannabis. Ispire does not produce cannabis oil or nicotine liquid — it sells the hardware devices used to vaporize these substances. In nicotine, Ispire sells branded vaping devices globally under the "Aspire" brand in over 30 countries, primarily in Europe and Asia Pacific, through a network of more than 150 distributors. Products include both open systems (refillable tanks and mods) and closed systems (pre-filled or cartridge-based devices). Ispire also has a growing OEM/ODM business, manufacturing devices to the specifications of other brands. In cannabis, Ispire sells hardware in the U.S. and Canada almost entirely on an ODM basis — designing and manufacturing custom hardware for cannabis brands, who fill cartridges with their own oil and sell the finished product under their own brand names. Europe is Ispire's largest market, followed by North America. A key part of Ispire's strategy is its Malaysian manufacturing facility, which lowers production costs and reduces exposure to U.S. tariffs on Chinese-made goods, giving Ispire a cost advantage over competitors based in China, Indonesia, or Vietnam. Ispire is also pursuing licensed brand partnerships (e.g., BrkFst, Hidden Hills Club) in Africa, the Middle East, and Europe, and holds a 40% stake in IKE Tech, a joint venture developing a blockchain-based age-verification system for vaping devices that, if FDA-approved, could unlock access to the U.S. flavored e-cigarette market.