iOS users are spending anywhere from $$1,249 to $1,449 for Apple’s iPhone 11 Pro Max, but a new report has found it costs the tech giant less than half to make its sought after handset. A teardown of the smartphone has revealed that including parts and assembly, the Cupertino company is only paying $490.50 for a finished handset. However, the $490.50 price tag does not include shipping, wages of people who handle assemble and costs of services that are free with each iPhone such as AppleCare and iCloud syncing.