Analyst claims that the £999 iPhone X of Apple ‘costs the company just £271 to make’

If you are tempted to splurge on the luxurious – but also ultra-expensive – iPhone X of Apple, you might be interested to read this first.

According to TechInsights, the new phone of Apple reportedly only costs the firm £271 to produce – making for a rather large profit margin of 64 percent.

The firm ‘tore down’ the new gadget, and found that the parts inside cost Apple 25% more than the ones inside iPhone 8 – but the price is ramped up 43% higher.

Apple is yet to comment on the price analysis of TechInsights. However, Tim Cook, Apple’s CEO,  has previously stated that they are almost always wrong. Cook said: ‘I’ve never seen one that is anywhere close to being accurate.’

TechInsights claim that the price is increased by the 5.8 inch AMOLED panel in the iPhone X, and by the steel chassis of the device.

The costing analyst for TechInsights, Al Cowsky, said: ‘Apple can be different here because they are the 800-pound gorilla.’