A report from Counterpoint has said that the material cost involved in making the iPhone 12 is higher by 21%, as compared to the iPhone 11. The report is based on an analysis of the bill of materials data for the 128GB model of the iPhone 12, including both 5G variants of the device. Apple's iPhone 12 series was launched in October 2020, and prices in India start from ₹69,900 for the 64GB model of the iPhone 12 mini.