Redington shares surge 5% after Apple unveils first foldable iPhone

Apple's launch of its first-ever foldable iPhone is expected to benefit Redington, a major Apple distribution partner across India and other markets. The move could drive consumer interest and confidence in the foldable smartphone category, though Samsung is likely to maintain its lead in the near term.

Analysts project Apple will ship approximately 10 million foldable units within the first 12 months. Redington's shares jumped 5% following the announcement, reflecting market optimism about the distributor's position to capitalize on increased demand for Apple's new device category.