Apple on the way to 23 million iPhone sales?

Guess what analysts reckon will happen to iPhone sales now there’s been a cut in the prices? Yep, you’ve guessed it, they’re going to go up. According to Pacific Crest analyst Andy Hargreaves, via Apple Insider , the $199 iPhone will mimic the growth the iPod saw when it dropped under $200.

The price change saw sales of the iPod go from 8.3 million to $32 million,says Apple Insider – so if the iPhone goes the same way, there could be 23 milion iPhones flying off the shelves, not taking into account any further subsidies from operators that could make the device even cheaper.

And how much are the devices costing Apple to make? According to iSuppli, the bill of materials is $173 per device. IT doesn’t look like Steve Jobs is going to have any trouble beating his 10 million sales goal a few times over.