£350. (...and if they're not making a huge profit on that...why sell it?)
And that isn't cheap either.
But for a plastic 'last year' phone, that's the price they should be aiming for the iPhone 5C. If not now, after the 6+ arrives next year.
Needs to lose another £100. It's not like the margins on these things aren't huge. More bothered about shareholders than consumers.
The entry iPad at £399 is about...