Apple’s new A16 Bionic chip costs 110 US dollars to produce, corresponding to just over SEK 1,200. That’s more than 2.4 times as much as last year’s A15 chip, Nikkei Asia reports.

The higher costs are likely due to the A16 chip using subcontractor TSMC’s new, smaller 4nm process, compared to 5nm for the A15. The higher costs are said to be an explanation for why only the Pro models received the new chip from Apple this year.

Analysis: Apple’s A16 chip is not worthy of the name Pro

Next year’s A17 is rumored to be based on a 3nm process.