According to market research firm iSuppli, the hardware used to make the Apple iPhone 4 costs about $187.51 (US). iSuppli analyzed a 16GB version of the phone. The iPhone 4’s cost is consistent with previous iPhone versions, as Apple has tried to keep the cost between $170-$180. “Over the years, the iPhone has generally tended to hover in the $170-to -$180 cost range because Apple seems to be trying to hit some kind of budget,” said iSuppli’s Kevin Keller in an interview with Businessweek.

What’s the most expensive iPhone 4 component? According to iSuppli, the phone’s 3.5-inch “retina display” tops the price list at $28.50. Next in line, is the 16GB Samsung NAND flash memory chip at $27.00. The A4 processor, manufactured by Samsung costs less than half of the display or the phone’s memory at $10.75.

For an in-depth look at all the hardware inside the iPhone 4, check out our extensive cracking open photo gallery. Unlike the iPhone, iPhone 3G, and iPhone 3G S, the Apple iPhone 4 was remarkable easy to disassemble. And, we walk you through the entire process.

Update 12/8/2011: This post originally appeared in our TR Dojo blog.