He said that some of the parts are refurbished. So $300 is not really the cost of making them right? Apple made a phone from scratch, sold it, someone got the

He said that some of the parts are refurbished. So $300 is not really the cost of making them right? Apple made a phone from scratch, sold it, someone got the parts and refurbished them to on sell them. So you'd expect the price to be much lower? What's the original cost?