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Apple's (AAPL) unveiling of its new Duo foldable iPhone may not have been a "Steve Jobs" moment, but there is an audience for the $1,999 device, according to AT&T CEO John Stankey.
"The best characterization I can give is, looking at the foldable phones that have been out in the market, this is not new," Stankey told Yahoo Finance from the Goldman Sachs Communacopia & Tech Conference.
"Android users are as passionate about Android as iOS users are about iOS," Stankey added. "[They're a] smaller percentage of the US market, but they are still passionate, and there's been some really good foldable devices in the Android ecosystem for a couple years. And what we've seen is that it tends to function more as a specific niche type application as opposed to it's broadly accepted."
Stankey continued that there's a market of people who find foldable phones valuable.