Apple Event 2026 impact: Redington shares jump 5% after Apple unveils first-ever foldable iPhone

Shares of Redington jumped more than 5% on Thursday after Apple unveiled its first-ever foldable iPhone, with analysts expecting the new launch to make a mark in a category dominated by Samsung’s Galaxy Z Fold and Huawei’s foldable lineup.

Apple on Wednesday introduced its first foldable iPhone, named iPhone Duo. It features a book-style folding design, combining a conventional cover display with a larger screen that opens up to provide a tablet-like viewing experience.

Redington shares rose to Rs 398 apiece on Thursday morning. The company has been a key Apple distribution partner since 2007, handling the logistics, warehousing and distribution of Apple products to retailers and resellers across India, the Middle East, Turkey, Africa and South Asia.


Also read | 'Apple enters late but sets the rules': A $1,999 bet on the foldable market with iPhone Duo

iPhone Duo price in India

The iPhone Duo is priced at Rs 2,99,900 in India and will be available from October 23 onwards. Customers will be able to pre-order the new device from October 16 onwards, according to the company’s website.

According to IDC vice president Francisco Jeronimo, Apple’s late entry into the foldable smartphone segment could actually work in its favour.

“Apple enters late but sets the rules,” he said, highlighting the company’s ability to leverage millions of existing iPhone users rather than having to convince consumers why foldable phones matter in the first place.

“The foldable launch is straight out of Apple's playbook: Wait for the product to work out its kinks and for the market to offer glimpses of viability, then enter and shape the category,” Forrester analyst Dipanjan Chatterjee told The Associated Press. “The difference is that foldables still represent a minuscule share of the smartphone market. The test of Apple's ambition will be whether it can expand that niche into a meaningful new segment,” Chatterjee said.

Prachir Singh, Senior Research Analyst, told ET Online ahead of the launch that the iPhone-maker’s entry into the segment would increase consumer awareness and confidence in foldables, with its strong premium user base and ecosystem potentially encouraging more iPhone users to consider switching to the form factor. However, he does not expect Apple to immediately replace Samsung, which holds the lion’s share of the segment.

Also read | Apple introduces first foldable iPhone Duo: Starts at $1,999

“Challenging Samsung’s dominance will be difficult in the near term, given its strong position, established portfolio and early-mover advantage,” he said, adding that Samsung is likely to continue holding the majority share of the foldable market.

IDC expects Apple to ship around 10 million Duo units in its first 12 months, generating about $27 billion in revenue. The research firm also expects Apple to become the largest foldable smartphone vendor in 2027.

Redington share price

Redington shares have gained 6% in a week and 11% in a month, with the stock jumping 43% so far in 2026.

Over the longer term, the company’s shares have gained around 61% in a year, 137% in three years and more than 170% in five years. The company has a market capitalisation of around Rs 29,903 crore.

Disclosure: "This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser. Debaroti Adhikary and her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment."