Small problem with that, Sandman, is that the figure is for the parts alone and doesn't reflect any R&D, building the factory lines, warranty, software team, etc. A handful of iPhone parts does not an iPhone make.
This assumes, of course, that the profit margin of a company that sells this product needs to be defended, which in this country, is ridiculous. This isn't the cure for cancer, it's a phone, and you set a price that will make you a profit that the market will bear. The sale numbers of this last weekend seem to suggest that the 2nd was met, we'll just have to assume that the 1st was too.