Samsung has proven with the new Galaxy S6 and S6 Edge that it really can make a premium smartphone that looks and feels like it is worthy of a high price tag. The S6 Edge is so premium, in fact, that it costs more to make than the iPhone 6 and iPhone 6 Plus.

Research firm IHS reports that the S6 Edge, which is famous for its fancy curved display, costs about $290 to build with 64GB of internal storage. That price includes parts and assembly, and it’s around $34 per unit more than the cost of last year’s Galaxy S5.

It’s also significantly more than the build cost of the iPhone 6 and iPhone 6 Plus, which IHS estimates to be about $247 and $263 respectively.

But despite the price increase, the Galaxy S6 is around the same price off-contract as the Galaxy S5 did when that first went on sale just over a year ago. That means a 64GB S6 Edge costs less than a 64GB iPhone 6, and a regular Galaxy S6 is even cheaper still.

The increase proves that Samsung was willing to spend more on materials to build a smartphone that is better than any of the Galaxy devices that came before it, and can really rival Apple’s iPhones in build quality for the first time.

Fans won’t find any tacky plastic on the Galaxy S6 and S6 Edge; they’re made entirely out of the latest Gorilla Glass and carved aluminum, with cutting-edge internals that include an Exynos 7 processor, an impressive 16-megapixel camera, and a Quad HD screen.

That screen is actually the S6 Edge’s most expensive component, according to IHS. The touchscreen and Super AMOLED panel combined cost about $85, while Samsung’s Exynos chip is the second-most expensive part at $29.50.

The S6 Edge also packs 3GB of DDR4 RAM — three times as much RAM as the iPhone 6 and 6 Plus — which is estimated to cost about $27, and its 64GB of flash storage costs about $25.

If you buy a Galaxy S6 or S6 Edge this year, then, you won’t have to worry about flimsy plastic back covers, fake leather, and slow software. Instead, you’ll be getting one of the best devices on the market.

• SourceRecode