Apple's iPhone X Reportedly Costs $370 to Build

Apple's iPhone X Reportedly Costs $370 to Build

Market analysts with IHS Markit recently published a cost analysis of Apple's (NASDAQ: AAPL) new iPhone X. The iPhone X with 64 GB of storage is priced at $999, but IHS Markit claims that the device costs just $370 to manufacture.

Previous IHS Markit reports estimated the cost of the iPhone 8 and iPhone 8 Plus -- two lower-cost iPhones announced alongside the premium iPhone X -- at $247.51 and $277.66, respectively. These reports seem to confirm what's intuitively obvious: The iPhone X is more expensive to build, so Apple charges more for it.

Apple executive Phil Schiller. Image source: Apple.

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Source: Fool.com