This is a discussion thread for the "iPhone 5 Sales Top Five Million on Launch Weekend" story posted on the front page.
Don't forget marketing. The BoM for the 16GB iPhone 5 is $199 + $8 for the labor coming to $207. So Apple lost money. No.
You're also forgetting that Apple sells the phones to the phone companies for more than $199, so they made a lot more than that.