That figure is 46 percent of its retail price, with the Finnish firm saving a fortune on processor and memory costs.
In a statement analyst firm IHS said that the Lumia 900 represents a make-or-break effort by Nokia and Microsoft to re-establish their foothold in the smartphone business.
The teardown shows that Nokia is willing to accept hardware lower margins to carve out smartphone market share.
The Lumia is similar to Samsung’s SII Skyrocket which cost $236. Samsung used a more expensive processor and more memory to reach similar performance.
But all is not well with the Lumia. Nokia has said it had found a software bug in the model and it will be giving a $100 refund until it is fixed. While this is not the kiss of death to the handset, it does blunt any hopes that it will be a best seller.
IHS might be wrong as far as the importance of the Lumia is to the Nokia/Vole pact. In many ways the phone is a dry run for the introduction of Windows 8 based phones later this year.