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Apple launched the iPhone 18 Pro, iPhone 18 Pro Max and its first foldable iPhone Duo

ICICIdirect Research 10 Sep 2026 DISCLAIMER

News: Apple launched the iPhone 18 Pro, iPhone 18 Pro Max and its first foldable iPhone Duo, along with Apple Watch Series 12, Ultra 4 and AirPods 5. In India, the iPhone 18 Pro starts at ₹1,64,900, Pro Max at ₹1,79,900 and Duo at ₹2,99,900. The key highlight is the Duo, featuring a 7.6-inch inner display, 5.4-inch outer display, A20 Pro chip, dual 48MP cameras and up to 24-hour usage. Pre-orders for Pro models open September 12, with sales from September 18, while Duo pre-orders open October 16, with sales from October 23. Apple has also taken a significant price hike in India, with the iPhone 17 (256GB) ₹17,000 costlier and iPhone 18 Pro ~22% higher than the previous Pro, the 1TB iPhone Air sees the steepest ~41% increase. Price hikes for Pro models in India are higher than the ~9%/8% in the US, ~11%/10% in China and ~9%/8% in the UK.

View: Redington, one of only two iPhone distributors in India with Apple contributing ~31% of revenue, stands to benefit from the new premium product cycle and higher ASPs. This enhances its realisation, revenue and profitability. Alongwith India, Redington also distributes apple products in ME, Africa and south asian countries. While foldables remain a small segment at ~2% of the global smartphone market, Apple’s entry could accelerate premium foldable adoption, with IDC expecting Apple to capture ~40% of global foldable shipments by 2027. India currently remains key consumer for basic variants wherein price hikes shall benefit while for Apple’s foldable, premium-focused markets such as the UAE/GCC could contribute more meaningfully.

Impact: Positive

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