Shares of Redington Ltd, an authorised distributor of Apple products in India, fell 2.36 percent on the National Stock Exchange (NSE) on October 27 amid concerns over a slowdown in Apple's iPhone sales during the festive season.
Redington shares closed at Rs 358.10, down Rs 8.65 from the previous close of Rs 366.75. The stock opened at Rs 368.35 and touched an intraday high of Rs 370.75 before declining to a low of Rs 356.70, according to NSE data.
According to a Moneycontrol report, Apple's iPhone sales fell by up to 30% around Dussehra, with demand during the Diwali period also expected to remain subdued. Higher prices, limited discounts and longer smartphone replacement cycles have weighed on consumer demand.
The slowdown threatens Apple's growth momentum in the world’s second-largest smartphone market. iPhone shipments in India are expected to decline by double digits this year from a record 14.3 million units in 2025, retailers and analysts told Moneycontrol. The second half is expected to drive the contraction.
"Retailer feedback points to softer sell-through, which is consistent with the price increases and the lack of festive offers. We expect festive demand across the market to be subdued this year," said Upasana Joshi, an analyst at International Data Corporation (IDC).