The HSPA+ version of the Samsung Galaxy S4 costs $244 (£161, AUS$235) to build, according to a virtual teardown, making it 15 per cent more expensive than the S3.
We all like a good look inside a gadget and this latest teardown shows that materials in the HSPA+ S4 come to $236 (£156, AUS$227), with $8.50 (£5.62, AUS$8.20) of manufacturing costs then added on top.
The LTE version, meanwhile, is just a smidge cheaper - with production costing $241 (£160, AUS$232) overall.
Budge up the budget
A lot of the extra cost comes from the S4's new AMOLED display, costing $10 (£6.60, AUS$£9.60) more than the S3's screen.
In the report, Vincent Leungh, IHS senior analyst for cost benchmarking, said: "Although its hardware is not radically different from the Galaxy S III... the Samsung Galaxy S4 includes some critical component updates that enhance its functionality as well as its BOM [build of material] cost."
Don't worry – no Galaxy S4s were harmed in the making of this analysis as it was a completely virtual teardown.
But it does mean that the numbers could change slightly when iFixit gets its hands on the handset and things get physical.