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It only costs $288 for Apple to make an iPhone 8 Plus

According to a research made by IHS Markit, it only costs Apple $247.51 to make an iPhone 8 and $288.8 to make an iPhone 8 Plus which is slightly more expensive then
producing the previous year’s iPhone models.
iPhone 64 GB base iPhone 8 is estimated to cost $247.51 which is $10 more expensive then producing iPhone 7. As of iPhone 8 Plus it is $18.08 more costly then producing iPhone 7 Plus which is estimated to be $288.08 for Apple to make 1 unit of iPhone 8 Plus. The increment of the production price for Apple has led to the increment of selling price for about $50/unit as well.
IHS Markit analyst Wayne Lam explains that the increment in production price is because of
the upgraded, camera, storage and processor. The upgrade from 32 GB to 64 GB storage option led Apple to cost $6 more per unit and $5 more for the new 6 – core A11 Bionic Chip. Other production cost includes display, metal chassis and the new wireless charging found in the new iPhone 8.
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Note that the mentioned figures are only for production cost. The reason why we pay more
than that of production cost is because more money is invested on Research and Development, the development of the new iOS, after sales support, ads and more.