Each iPhone 5 costs Apple $207 to make, it has been estimated.
Actually, make that 'guessed'. Market watcher IHS iSuppli hasn't had an iPhone 5 to take apart yet, so it's presumably had to work from the component photos leaked onto the internet over the past few months and from its knowledge of the phone's capabilities and the parts required to deliver them.
The result: a basic $199 bill-of-materials price for the 16GB iPhone 5 plus eight bucks to pay Foxconn to put all the bits together - $207 in total.
iSuppli estimates that figure rises to $217 for the 32GB model and $238 for the 64GB.
Apple wants £529, £599 and £699 for the three versions, so you can see how much its cashing in on the extra Flash, even if iSuppli's numbers are broadly right.
Not that the Flash is the defining component, price-wise. That's the display, with its new in-cell touchscreen technology. iSuppli reckons the 1136 x 640 panel costs $44 a pop, more than the iPhone 4S' display, which costs $37, though Apple saves a buck or two by not requiring a separate touchpanel.
The addition of LTE ups the radio sub-system cost to $34 from the $24 is pays for the 4S' version. The A6 system-on-a-chip is estimated to cost $17.50 - the A5 cost $15. Flash has never been cheaper and contributes $10.40 for each 16GB added. The 8Mp camera costs $18. ®