However, the component costs are estimated to start at $219.80 for iPhone 7. With the display racking almost $43, other baseband chips including Intel modem and other baseband chips worth an estimated total of $33.90. The other most expensive item is Apple’s quad-core A10 Fusion chip which costs about $26.90. Finally, it's 1,920 mAh battery costs about $2.50 (You can look up more details here).
As earlier stated, this cost excludes other expenses incurred.
One interesting thing to note is that, despite the removal of the headphone jack, IHS claims that the iPhone 7 is more expensive to manufacture than last year’s iPhone 6s.