Billionaire investor Warren Buffett says he’s not giving up his flip phone just yet, and he’s not the only one.
Buffett told CNBC Wednesday that he’s not interested in a new smartphone, even though Apple CEO Tim Cook has personally tried to convince him to join the iPhone revolution. Buffett — who recently predicted that cryptocurrencies will “come to a bad ending” — flashed a Samsung flip phone during an interview and said “the market is not yet saturated for iPhones.” Buffett’s Berkshire Hathaway is one of the top five shareholders in Apple.
Buffett isn’t alone. About 510 million flip phones were shipped worldwide in 2016, down from 543 million the year before. Smartphone shipments were triple that number, at about 1.47 billion in 2016, up from 1.44 billion in 2015.