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 (video above).

“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.

“Will iOS users view it differently or will there be some unique take that Apple comes up with that changes that penetration dynamic a little bit?” he said. “I suppose it’s possible, but my guess right now is we’re going to kind of see it contained to a portion of the user base that wants that larger device and is maybe willing to invest more money to pick it up and get it.”

New Apple CEO John Ternus debuted the tech giant’s first foldable iPhone on Wednesday.

Dubbed the iPhone Duo, the device features a passport-like design that opens and closes like a book, Yahoo Finance tech editor Dan Howley reported.

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The Duo sports a 5.4-inch upfront display. When the device is opened, a massive 7.6-inch display is revealed, ideal for watching movies, playing games, working, and multitasking.

The iPhone Duo will start at $1,999, in line with speculation ahead of Apple’s annual event.

Stankey didn’t rule out getting a Duo.

“I’m going to have to see if it replaces something that I use,” Stankey said. “I’m pretty adept at moving back and forth between my iPad and my mobile device right now. And if it becomes something where it says maybe I don’t need to carry the larger iPad around with me, I might be interested.”

Yahoo Finance’s Dan Howley contributed reporting.

Brian Sozzi is Yahoo Finance’s Executive Editor, host of the ‘Power Players With Brian Sozzi’ podcast and a member of Yahoo Finance’s editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email brian.sozzi@yahoofinance.com.

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