The Lumia 900 is a hell of a phone. Plus, it should be pretty cheap once it lands in the UK. But it's not for lack of quality parts: iSuppli crunched the numbers and determined it costs around £136 to build and manufacture. That's more than the iPhone.
For comparison's sake, the iPhone 4S's 16GB model costs an estimated £119 to build and retails for £499 off-network. The Lumia's component prices are about the same, but strangely, it shoots ahead with an expensive screen compared to the iPhone. The Lumia's screen is larger physically, but has a much lower pixel density than the iPhone's retina display.
Nokia — and its partner in crime Microsoft — desperately wants to get a foothold with the Lumia line of Windows Phones. That's why the Lumia 710 is cheap too and we've got the presumably cheaper Lumia 610 incoming too. Nokia's willing to subsidise hardware to gain market share. If works, it's absolutely worth it. If not, well, that's a mighty big bill Nokia just stuck itself with. [iSuppli]