It’s important to preface this entire piece by saying that Apple CEO Tim Cook once said that these types of estimates are never ‘anywhere close to being accurate,’ and that they are typically ‘much different than the reality.’ That said, the iPhone 7 is more expensive to manufacture than last year’s 6s — headphone jack be damned. The total cost of the build, according to data from IHS Markit, adds up to $219.80. Once you factor in labor costs, estimated at $5 per phone, the total build runs $224.80 for the base model, 32GB iPhone 7. The company claims that this is…
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