I saw on Fortune tech that the iPhone 7 components were $401 with a selling price of $649. IPhone X is estimated to have $581 in components with a selling price of $999. Assume labor costs of assembly are the same for simplicity. The iPhone X markup is $418 vs $248 for the iPhone 7, both excluding assembly costs. I do know R&D is more for the iPhone X, which may account for the markup.