Research firm IHS, which previously dismantled the iPhone 5s and 5c to calculate component costs, has now done the same with the iPad Air.

It concludes that while the technology in the iPad Air is significantly more advanced than in the iPad 3 (for some reason the company skipped the iPad 4), the total production cost is actually lower, reports AllThingsD.

The firm says Apple’s iPad Air […] costs between $274 and $361 to build depending on model. The […] total component cost of the base model, at $274, is still $42 cheaper than the entry-level third-generation iPad …

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