Shares of Redington, a prominent supplier of iPhones in India to Apple Inc., closed Tuesday’s session, March 10, 11.6% higher at ₹259.30 apiece, snapping a five-day losing streak after news report showed a strong surge in iPhone production in India over the past year, bringing the stock back into the spotlight.
Apple Inc. increased iPhone production in India by about 53% last year and now makes a quarter of its marquee devices there, according to a report by Bloomberg. The company assembled about 55 million iPhones in India in 2025, up from 36 million a year earlier, the report said, citing sources.
Apple makes about 220 million to 230 million iPhones a year globally, with India’s share of the total increasing rapidly.
Redington is benefiting from a significant rise in demand, as it is a key distributor of Apple products in India. The company signed up with Apple for the Mac business in 2007 and for the iPhone business in 2011.
While primarily known as a distributor of IT products from companies such as Dell and HP, a significant portion of its revenue comes from distributing Apple products in the Indian market.
According to its December-quarter investor presentation, Apple contributed 33% to the company’s topline, compared with 30% in the same period last year.
Apple has accelerated its expansion in India, bolstered by the Production-Linked Incentive Scheme, which has helped offset some of the structural cost disadvantages that manufacturers face in the country, including the lack of a China-like robust supply chain and logistics challenges.
In 2025, shipments from China, where Apple still makes the bulk of iPhones, faced headwinds as a result of United States–China trade war tariffs. The levies pushed Apple and its suppliers to move a greater share of devices meant for the American market to alternative manufacturing destinations, with India emerging as a major bright spot, as per the Bloomberg report.
In FY25, the company shipped a record 12 million units, achieving a 10% market share, positioning it as the fourth-largest smartphone brand in India. The premium segment (devices priced above $600) experienced notable growth, reflecting a consumer shift toward higher-end models.
Redington share price trend
The company’s shares have remained under pressure in recent months, falling from ₹334.80 a piece to ₹259.30, resulting in a 22.5% decline over nine months, including March.
Despite the stock’s short-term trend remaining weak, its long-term performance has remained intact.
Over the last seven years, the shares have rallied from ₹44.33 a piece to ₹272.35 apiece, 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.
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