iPhone 15 Pro Max costs Apple 12% more to make than iPhone 14 Pro Max, report claims

According to a recent teardown analysis, the manufacturing cost of the iPhone 15 Pro Max is approximately 12% higher than that of its predecessor, the iPhone 14 Pro Max.
As reported by Nikkei (via AppleInsider), the estimated cost of components for each iPhone 15 Pro Max is around $558, indicating a parts-to-cost ratio of 47%. Notably, this figure is roughly 12% higher than the production cost of the iPhone 14 Pro Max.
The display is 10% more expensive in the iPhone 15 Pro Max than the iPhone 14 version, according to the report, while the titanium frame has increased costs by 43%.
The new A17 Pro chip costs 27% more than the A16 Bionic, and the telephoto camera is 3.8 times more expensive than its predecessor, according to the report.