Every year we break down how much it costs to build an iPhone, with this year being no different. It also comes as no surprise that the iPhone 7 costs more than its predecessor in terms of component costs.
The cost is estimated to be set at $219.80 that is $36.89 higher than iPhone 6S, according to IHS Markit. Once you factor in labour costs, estimated at $5 per phone, the total build runs to $224.80 for the base model of 32GB iPhone 7. While the iPhone 6S base model was set at $187.91.
The market price for the iPhone 7 base model is set at $649, giving Apple an expected profit of $424 for each device sold, a whopping 189 per cent markup.
However, to be fair, these estimates don’t account for the costs of research and development or other external costs.
Either way, it’s good to know the hardcore numbers that are behind the production of the iconic iPhones.
This article originally appeared on MacRumors.