Redington

Integrated technology solutions provider Redington Ltd will offer its iPhone 16 smartphones at its retail locations across the country, the company said on Saturday. US-based Apple Inc., recently unveiled the latest range of smartphones; Apple Watch Series 10, Watch Ultra 2, Air Pods 4 among many others. In a statement on Saturday, Redington said it would offer the iPhone 16 and iPhone 16 Plus equipped with a host of features at its 7,000 retail locations across the country. All the new models can be pre-ordered, and they will be available from September 20, 8 am onwards, the statement added.

Redington's operations from rest of the world (ROW) segment, which operates in 31 countries, including Rwanda, Oman and Turkey, and contributes nearly 50 per cent to its revenue has been in pressure

Affluent Indians are increasingly spending more than 30,000 rupees ($361.30) on new smartphones, benefiting manufacturers and distributors such as Redington

On the broader market outlook, Vinay Rajani technical & derivative analyst of HDFC Securities says the Nifty needs to break from the 22,204-22,529 range for fresh direction.

Redington has been sharpening its focus on its cloud services business to expand beyond gadget distribution, which brings in a bulk of its revenue

Redington reported a 21.2 per cent year-on-year decline in consolidated net profit at Rs 248.8 crore in Q1FY24. Ebitda margin fell 100bps YoY to 2 per cent

Redington reported a 21% fall in quarterly profit, as the technology devices distributor wrestled with higher expenses at a time when demand for work-from-home equipment also slowed

IT products distributor Redington reported 26% increase in quarterly revenue, boosted by demand for laptops and mobile phones

The iPhone distributor's quarterly revenue rose to 190.51 billion rupees from 152.87 billion rupees a year ago, per the filing. Apple, its single largest vendor, accounted for 27% of the revenue

Signs agreement to acquire Ensure Support Services (India) Ltd for Rs 31 crore in cash

Redington (India), a supply chain solutions provider for IT and non IT- products and a major distributor of Apple products in the country, has said that the growth in the non-Apple smartphone distribution business has started contributing to its mobility business significantly. Harrow Investment Holding Ltd, the promoter of the company, has exited from the company by selling their shares on July 5 and 6 through open market.The company is also in the process of diversifying its business into new businesses such as Solar energy and health and medical equipment.The non-IT products business, which includes the mobility services has seen picking up a considerable share of its business in the past. Close to 30 per cent of the company's revenue, which was at Rs 15,480 crore on a standalone basis in 2016-17, has been from the mobility and services portfolios, said the company.The company has delivered strong shift towards non-IT or mobility segment, with the contribution of this business ...

The response for iPhone 7 and specifically iPhone 7 Plus has been far better than anticipated

It has posted a net profit of Rs 100.21 crore for the quarter ended September 30, 2016

Rising share of Apple in its revenues, healthy traction in IT business should drive growth