IPhone 4: $188 in Parts, $411 in Magic

The components in the 16GB version of Apple’s (AAPL) iPhone 4 cost $8.55 more than those in its predecessor.

This according to iSuppli’s tear-down analysis of the device, which estimates its bill of materials to be $187.51 (click on chart below to enlarge). That’s a bit more that the iPhone 3GS, which had a BOM of $178.96, but then, Apple’s newest iPhone model boasts a number of enhancements, among them the Retina Display and A4 processor, which iSuppli figures cost $28.50 and $10.75, respectively.

No word on what carriers pay Apple for the device. But right now a 16GB iPhone 4 on AT&T (T) without contract or subsidy costs $599.