Apple's new flagship iPhone X makes the company more money per phone than its iPhone 8 model, according to an analysis, which found the iPhone X's flashier parts cost Apple 25 percent more than the iPhone 8, but that it retailed 43 percent higher.

The iPhone X smartphone costs $357.50 (roughly Rs. 23,200) to make and sells for $999 (roughly Rs. 64,800), giving it a gross margin of 64 percent, according to TechInsights, a firm that tears down technology devices and analyses the parts inside. The iPhone 8 sells for $699 (roughly Rs. 45,300) and has a gross margin of 59 percent.

The finding is surprising because technology products tend to become more profitable as they age and the parts for them drop in cost.

The iPhone X is a brand new design that went on sale on Friday, to apparently strong demand, while the iPhone 8 is an update on last year's iPhone 7, which itself was similar to the iPhone 6 released in 2014.

Apple declined to comment on TechInsights' analysis.

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