Most of the components are leds and transistors (and some resistors) and those are (still) dirt cheap... you can get whole microcontrollers for ~3 cents a piece

Most of the components are leds and transistors (and some resistors) and those are (still) dirt cheap... you can get whole microcontrollers for ~3 cents a piece [0] (if you buy a few thousands). PCBs are comparatively cheap, few tens of dollars, depending on the process, and with pick-and-place, assembly is also relatively cheap. so yeah.. maybe they're making them in some more expensive country or use some exotic components. [0] https://www.youtube.com/watch?v=VYhAGnsnO7w https://www.youtube.com/watch?v=VYhAGnsnO7w