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Apple profited some $330 million from 3G iPhone sales over its first weekend, Fortune's Philip Elmer-DeWitt estimates that . His back-of-the-envelope formula factored in iSuppli's estimate of the manufacturing costs of each iPhone 3G, Apple's numbers on how many iPhones it sold over the weekend, analyst estimates on how much AT&T and other carriers subsidize each phone, and what a survey says about the sales split between the iPhone's $199 and $299 iPhones models. All that, a little bit slower now, in Elmer-DeWitt's bullet points below.

  • At least 1 million iPhones sold over the first weekend (Apple)
  • Cost to Apple: $174.33 parts plus $50 royalties for 8GB model; $16 more for 16GB model (iSuppli)
  • Cost to consumers: $199 (8GB), $299 (16GB) (Apple)
  • Cost to carriers: conservatively, $499 (8GB), $599 (16GB) (iSuppli)
  • Profit per phone: $274.67 (8GB) and $358.67 (16GB)
  • Models sold: 33% (8GB), 66% (16GB) (Piper Jaffray survey)