Production of iPhone 14 costs 20% more than iPhone 13

Nikkei Asia revealed component prices for the latest iPhones soared 20%, reaching an all-time high. Production of the iPhone 14 Pro Max costs $501, a huge increase from the $461 cost of its predecessor, and the main reason is the A16 Bionic chip, costing $110 alone. Prices for the Pro Max model have varied between $400 and $450 since the introduction of the model in 2018, Nikkei wrote. The news website made the logical assumption that if Apple is taking a hit in the manufacturing cost while not touching its US prices, the company is likely to get a hit in profits. The A16 Bionic...