Redington Shares Surge 11.5% Following Apple Announcement on iPhone Manufacturing in India

Redington Shares Surge 11.6% as Apple's iPhone Production in India Rises

Key Highlights

• Redington shares closed 11.6% higher at ₹259.30 apiece on March 10, snapping a five-day losing streak
• Apple Inc. increased iPhone production in India by about 53% last year, with the country now accounting for a quarter of global production
• Apple assembled approximately 55 million iPhones in India in 2025, up from 36 million in the previous year

Background

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Redington, a prominent supplier of iPhones in India, has benefited from a significant rise in demand due to its role as a key distributor of Apple products in the Indian market. The company has been associated with Apple since 2011, when it signed up for the iPhone business, and has been a distributor for Mac products since 2007.

Revenue Contribution

According to Redington's December-quarter investor presentation, Apple contributed 33% to the company's topline, up from 30% in the same period last year. This highlights the growing importance of Apple as a revenue stream for Redington.

India's Growing Significance

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Apple's expansion in India has been accelerated by the Production-Linked Incentive Scheme, which has helped offset some of the structural cost disadvantages faced by manufacturers in the country. In 2025, Apple shipped a record 12 million units in India, achieving a 10% market share and positioning it as the fourth-largest smartphone brand in the country.

Market Trends

Redington's share price has remained under pressure in recent months, falling from ₹334.80 apiece to ₹259.30, resulting in a 22.5% decline over nine months. However, the company's long-term performance has remained intact, with shares rallying from ₹44.33 apiece to ₹272.35 apiece over the last seven years, translating into a massive gain of 514%. Cumulatively, the stock has recorded a 51% gain in the last three years and 197% over five years.