IHS said Samsung’s Galaxy S7 is “the upgrade Samsung had to do, but there’s not a lot of trailblazing happening on the device”.

Having completed a teardown of the device, Andrew Rassweiler, senior director of cost benchmarking for IHS, said: “Samsung is spending more and more on its bill of materials (BOM), but selling something that doesn’t hold its price as well as an Apple product. Samsung’s S7 BOM is almost $60 more than a comparable iPhone”.

The US version of Galaxy S7 with 32GB of storage has a BOM of $249.55, compared with $187.91 for the 16GB Apple iPhone 6s.

From a cost perspective, Qualcomm is one of the biggest winners in the Samsung device: its Snapdragon 820 processor and supporting components account for $62 of the total.

Samsung has also dropped the megapixel count for the Galaxy S7 camera, to 12MP from 16MP, in favour of technology to improve overall imaging performance.

Wayne Lam, principal analyst for mobile devices and networks at IHS, said: “Going backwards from 16MP to 12MP buys Samsung larger pixel sizes for better low-light performance. HTC did this a while ago with the One design, but went down to four megapixels and, as a result, it did poorly in the marketplace. But the S7 boasts arguably the best camera on the market right now.”

On the display front, the Galaxy S7 does not see a step-up from the earlier Galaxy S6, being 5.1-inches with 2560×1440 pixel resolution.