On a Thursday morning in September, the shares of a little-known distributor climbed past five percent, because the company that carries Apple's products into markets across Asia, Africa and the Middle East had just become a quiet beneficiary of a new kind of object. Apple had shown its first foldable phone, the Duo, a device that opens like a book into a tablet-sized screen and carries a price of nearly three lakh rupees in India. Such moments tend to repeat in the history of technology: the latecomer who waits for others to prove that a strange new form can work, then arrives with the advant
Redington Shares Jump 5% as Apple Unveils Its First Foldable iPhone, the iPhone Duo
Apple enters late but sets the rules.
Mark
Why would a distributor's stock jump on a phone announcement?
Mimi
Redington has handled Apple's logistics, warehousing and distribution since 2007, across India, the Middle East, Turkey, Africa and South Asia. More Apple volume flows through its network.
Mark
The Duo costs Rs 2,99,900. Is that a problem?
Mimi
Analysts in the piece don't say. Pre-orders open October 16, with availability from October 23, so demand is still untested.
Luke
Worth separating things. The 5% rise is a fact. The 10 million units and $27 billion are IDC's forecast, not results.
Mark
And Apple becoming the largest foldable vendor in 2027?
Luke
Also IDC's expectation. Another analyst, Prachir Singh, expects Samsung to keep the majority share near term. Those views sit side by side.
Mimi
Chatterjee's point is the sharpest. Foldables are a minuscule share of smartphones, so the question is whether Apple can grow the niche.
Mark
Was the stock already moving?
Mimi
Yes, up 43% this year and 11% in a month.
Luke
So we can't say how much of Thursday's jump is the Duo. The article doesn't separate that, and it doesn't say how much Redington earns on each Duo.
Der Puls
- Redington shares jumped past five percent to Rs 398 as investors bet that Apple's new foldable would lift the distributor that moves its products.
- Apple's book-style iPhone Duo arrives at Rs 2,99,900 in India, a premium price that places it squarely in a category still dominated by rivals.
- Analysts argue Apple is entering late on purpose, relying on millions of existing iPhone owners to make foldables feel like a natural next step.
- Samsung's Galaxy Z Fold and Huawei's foldables still hold the lead, and most observers doubt Apple will overturn that position anytime soon.
- IDC projects around 10 million Duo units in the first year, and the October 16 pre-orders will reveal whether demand at this price is real.
On a Thursday morning in September, the shares of a little-known distributor climbed past five percent, because the company that carries Apple's products into markets across Asia, Africa and the Middle East had just become a quiet beneficiary of a new kind of object. Apple had shown its first foldable phone, the Duo, a device that opens like a book into a tablet-sized screen and carries a price of nearly three lakh rupees in India. Such moments tend to repeat in the history of technology: the latecomer who waits for others to prove that a strange new form can work, then arrives with the advantages of an enormous installed base and reshapes the field around its own rules. Whether the foldable remains a niche curiosity or becomes a meaningful part of ordinary life will be decided by what people choose to buy in the weeks ahead.
On Thursday morning, Redington's shares rose more than five percent to Rs 398, a day after Apple unveiled the iPhone Duo. The market's logic was straightforward: if Apple sells a new kind of phone, the company that handles its logistics, warehousing and distribution across India, the Middle East, Turkey, Africa and South Asia stands to gain. Redington has been Apple's partner since 2007, and its stock was already climbing, up 43 percent so far this year.
The Duo folds like a book. A conventional cover display sits outside, and opening it reveals a larger screen with a tablet-like experience. In India it costs Rs 2,99,900, with pre-orders opening October 16 and sales beginning October 23. The US starting price is $1,999.
Analysts saw Apple's entry as late but potentially decisive. IDC's Francisco Jeronimo said Apple enters late but sets the rules, since it can draw on millions of existing iPhone users rather than persuading people why foldables matter. Forrester's Dipanjan Chatterjee described the familiar pattern of waiting for a product to mature before shaping the category. Still, foldables remain a tiny share of the smartphone market, and Prachir Singh of ET Online expects Samsung to keep the majority share.
IDC forecasts about 10 million Duo units in the first year, roughly $27 billion in revenue, and Apple becoming the largest foldable vendor by 2027. The open questions are whether Apple can lift foldables from niche to mainstream, and whether October's pre-orders show that buyers will pay near Rs 3 lakh for the privilege.
On Thursday morning, shares of Redington climbed past 5% to reach Rs 398 apiece, a day after Apple showed the world its first foldable iPhone. The device is called the iPhone Duo, and the market's reading was simple: if Apple sells a new kind of phone, the company that moves Apple's boxes stands to gain.
The Duo uses a book-style fold. A conventional cover display sits on the outside, and the phone opens to a larger screen that gives a tablet-like viewing experience. Apple introduced it on Wednesday. In India it is priced at Rs 2,99,900, with pre-orders opening October 16 and availability from October 23, according to the company's website. The US starting price is $1,999.
Redington's link to Apple goes back to 2007. It handles logistics, warehousing and distribution of Apple products to retailers and resellers across India, the Middle East, Turkey, Africa and South Asia. That role explains why a distributor, rather than a handset maker, was the stock reacting.
The longer chart shows the stock was already running. Redington has gained 6% in a week and 11% in a month, and is up 43% so far in 2026. Over a year the gain is around 61%, over three years 137%, and over five years more than 170%. Its market capitalisation is about Rs 29,903 crore.
Analysts framed Apple's entry as late but potentially consequential. IDC vice president Francisco Jeronimo said Apple enters late but sets the rules, pointing to its ability to draw on millions of existing iPhone users instead of having to persuade people why foldables matter. Forrester analyst Dipanjan Chatterjee, speaking to The Associated Press, called it straight out of Apple's playbook: wait for the product to work out its kinks and for the market to show signs of viability, then enter and shape the category. He added that foldables are still a minuscule share of the smartphone market, and that the test of Apple's ambition is whether it can turn that niche into a meaningful segment.
Prachir Singh, a senior research analyst, told ET Online before the launch that Apple's arrival should raise consumer awareness of and confidence in foldables, and that its premium user base and ecosystem could push more iPhone owners to consider the format. He did not expect Apple to dislodge Samsung quickly. Challenging Samsung's dominance will be difficult in the near term, he said, given its strong position, established portfolio and early-mover advantage, and he expects Samsung to keep the majority share. Samsung's Galaxy Z Fold and Huawei's foldables currently dominate the category.
IDC's numbers are the most concrete forecast on the table. The firm expects Apple to ship around 10 million Duo units in its first 12 months, generating about $27 billion in revenue, and expects Apple to become the largest foldable vendor in 2027.
What to watch is whether Apple's arrival expands foldables beyond a niche, and whether the October pre-orders show demand at a price near Rs 3 lakh in India.
Bemerkenswerte Zitate
Apple enters late but sets the rules.— Francisco Jeronimo, IDC vice president
Challenging Samsung's dominance will be difficult in the near term, given its strong position, established portfolio and early-mover advantage.— Prachir Singh, senior research analyst
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