Redington shares jump 5% after Apple unveils foldable iPhone Duo

Redington shares jumped over 5% on Thursday after Apple unveiled its first foldable iPhone, the iPhone Duo, with analysts expecting the launch to boost the segment despite Samsung's current dominance. The iPhone Duo features a book-style folding design and is priced at Rs 2,99,900 in India, with pre-orders starting October 16 and availability from October 23. Redington, Apple's distribution partner since 2007, handles logistics across India, the Middle East, Turkey, Africa and South Asia. IDC expects Apple to ship around 10 million Duo units in its first year, generating about $27 billion in revenue, and become the largest foldable vendor by 2027. Analysts note Samsung will likely retain its majority share in the near term.