> I note that with all the sophisticated technology in this device, the 
> single most expensive component is... the display?!

It's a nice display though :-)

> I'm also surprised at just how cheap the casing is; you would have thought 
> making something that can survive being sat on, dropped on the pavement, 
> rained on or flushed down a toilet would be very expensive. But apparently 
> not.

Those parts are typically quite cheap to produce in high volume, once you 
have the tooling done it's just injecting cheap plastic into a mould or 
cutting and folding sheets of cheap metal.

> (Strictly, they list the cost of the materials, not the cost of actually 
> assembling them.)

The list is the amount you pay to buy those components (which includes the 
sub-assembly needed for those individual components), on top of that price 
there is about another $10 to assemble that lot together into an iPhone.

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