Samsung did not have a good year last year with one of its biggest screw ups in Galaxy note 7. The phone maker had to recall the product twice due to serious issues about safety and quality control. This year, with its Galaxy S8, the company makes sure that their latest flagship is free from any serious quality control issues, with the risk of exploding batteries eliminated.

Available on Friday in stores, the brand new S8 is the talk of the town with the newest and best in technology utilized to build the elegant smartphone. Naturally, it acquired a premium price due to its unique features and advanced design. However, it has now been revealed that it is probably a lot cheaper than it could have been.

According to CNET, Samsung's Galaxy S8 costs around $720 for a phone that’s way better than its predecessor, making it one of the most expensive premium phone in history. According to an estimate released Thursday by analytics firm IHS Markit, the handset costs $40 more to make than the Galaxy S7. It costs $307.50 to build, including the cost of materials and manufacturing, which is way more than the previous Galaxy S7 ($255.10) and Galaxy S7 Edge ($271.20).

Additionally, per IHS, the Galaxy S8 also costs more to build than its competitors such as the Apple iPhone 7 and Google Pixel XL. New estimates say that sales of Galaxy S8 would still have been similarly high if the company sold it with the price that it really deserves. However, the Galaxy Note 7’s sad fate had pushed Samsung to probably want to keep the Galaxy S8’s price as close to the Galaxy S7 and the iPhone 7 as possible.

In fact, due to the Samsung screw up with Note 7's exploding batteries, the Galaxy S8 may end up being a lot more affordable than the iPhone 8 this year. According to BGR, the IHS have analyzed the iPhone 8 and Galaxy S8 to be having similar hardware. However, Apple’s next iPhone flagship may cost as much as $1,000 when it debuts this year.