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iPhone Atrocity!

Paige Septak, Print

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Technology giant, Apple Inc., released the iPhone 8 on September 22nd, 2017 priced at $699 and the iPhone X on October 2nd, 2017 with starting price at $999. From the release of these new models alone, Apple Inc. is making more than just a pretty penny. According to Reuters, an international news agency based in London, England, reporter Stephen Nellis “The iPhone X smartphone costs $375.50 to make and sells for $999, giving it a gross margin of 64%…” Nellis’ article also states that the iPhone 8 has a gross margin of 59%. A gross margin is the company’s total sales revenue minus the company’s cost of goods sold, then divided by total sales revenue expressed as a percentage. Production and parts for the iPhone 8 only costs $247.51 compared to its $699 price tag, which means a profit of $451.49 without any other costs taken out. The iPhone X profit, being sold at $999 and made for $375.50, is about $641.50. Apple promotes that both iPhones both have a 12MP wide-angle and telephoto cameras, A11 Bionic Chip, and wireless charging. The iPhone X also has a 5.8” “super retina HD display” as apple calls it and is the only iPhone with facial recognition. The iPhone 8 only has a 4.7” retina HD display and only has touch ID, and the iPhone 8 Plus only has a larger display of 5.5” and a higher price of $799, but the same features of the regular iPhone 8. In less than three days Apple sold out if their iPhone X, with claims of having two to three million iPhone X models made. Apple Inc. knows the high demand of their product, even if this is their most expensive iPhone model, the Apple products will sell well and fast. As technology advances at such a rapid pace, the price tag along with the technology will grow just as rapidly.

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