Why is iPhone 12 so expensive?

Compared to the iPhone 11, an upgrade to the iPhone 12 gets you 5G cellular speed, an OLED XDR Super Retina display, a faster A14 Bionic Chip, MagSafe charging, and an improved camera sensor. That's a lot of extra features for the same price. Except, the iPhone 12 is actually a lot more expensive than it seems.

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