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Reports Of Apple's iPhone 7 Profit Margins Are Greatly Exaggerated

The internet is abuzz with discussions about the profit margin on Apple’s iPhone 7 after UK-based analyst firm HIS Markit did a teardown on the cost of the materials used to make the handset. So the total cost of parts for the iPhone 7 comes in at under $300 and the retail price for the device starts at $1079 in Australia. People seem to think that Apple is pocketing over $800 in profit for the sale of every handset.
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