How is gaming the system (legally) fraud? Like the iPhone 3GS, it only costs $179 to make (»mytriniphone.com/blog/2009/06/co···3gs-179/). If Apple doubled the cost to ATT that is only $358. In addition, most wireless companies buy phones in the 10s of thousands and receive a substantial bulk discount. With ETFs, the only people making out are the wireless companies.
According to your article " These estimates do not include other charges, such as the costs to develop the iPhone’s software, shipping and distribution, packaging, royalty fees and miscellaneous accessories included with each iPhone."
$359 is not very unreasonable. It may be on the cheap side.
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