The prices of iPhones are certainly not low, but when considering the price of these smartphones, it is worth noting how much the production of such equipment itself costs. It is not so easy to estimate it, but the Japanese company Fomalhaut Techno Solutions attempted the analysis. It predicted that the production cost of a standard iPhone 12 was 373$, while each iPhone 12 Pro cost Apple 406$. For comparison, the prices of both phones on the shops shelves are 829$ and 999$, respectively.
The most expensive component used in the iPhone 12 Pro is certainly the 5G modem by Qualcomm. Apple has to pay 90$ for the each X55 modem. Firm also has to pay a lot for an OLED display - each Samsung screen is priced at 70$. The production of the A14 processor costs Apple about 40$, while the RAM and internal memory cost about 12.8$ and 19.2$, respectively. In addition, the sensors used in iPhone cameras are valued at between 7.4$ and 7.9$.