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The ASP of iPhones is $760. Also, Apple never sold an iPhone 7 for $200. If you are finding one, they are being subsidized by the carrier and they are still paying the wholesale cost.

https://wccftech.com/iphone-11-cuts-into-apples-average-sell...

The iPhone 7 was discontinued September 2019. You might have found some on clearance after that.



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