Albeit the fact that he has been given "several" iPhones over the years by the company, including those from Apple CEO Tim Cook, he confessed that he never used those smartphones for his personal use until now. He also teased that he might crush his old phone at Berkshire Hathaway's upcoming annual meeting in May.
"My flip phone has permanently gone", Buffet told CNBC when asked that if he is a consumer of the smartphone. "You're looking at an 89-year-old guy who's barely beginning to get with it", Buffett said, and added that he doesn't use "all its facilities like most people" and that "I use it as a phone". "I told him I will personally come to Omaha and do tech support for him", Cook had said about telling Buffet to start using an iPhone. "If you take a look at the present circumstance", he mentioned, "you get more for your cash in stocks than bonds". He does, however, use an iPad to do some of his research on stocks and the overall market and to check on the latest stock prices.
This story was first published on CNN.com, "Warren Buffett finally traded in his flip phone for an iPhone." .
Apple soared 86 percent in 2019 and 31 percent in the fourth quarter alone, leaving Berkshire with a US$73.7 billion year-end stake.
Buffett said this can make even "independent" directors resist challenging bad decisions by CEOs, especially in takeovers.
The Apple CEO has tried to convince Buffett for years to give up his flip phone for an iPhone. His older phone was a Samsung SCH-U320. However, Buffet admits that he still uses the new iPhone 11 only for making and receiving voice calls.