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Specifically, that figure is for the 32 GB US version of the Galaxy S4. In a report last year, iSuppli estimated that it costs Apple $209 to make a 32 GB iPhone 5. The cost estimates include both parts and labor.
One of the biggest criticisms lobbed at the Galaxy S4 is that the phone feels cheap due to its plastic construction. Most reviewers preferred the metal construction of the phone's chief Android rival, the HTC One.
But based on iSuppli's analysis, it's pretty clear that the phone's guts are still very expensive, especially since Samsung doesn't make its own mobile processors like Apple does. Samsung does make its own processor for the international version of the Galaxy S4, but that chip costs $8 more than the Qualcomm chip used in the US model.
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