Why are iPhones more expensive than iPads?

iPhones cost more because their compact design demands intricate engineering to fit motherboards, batteries, SoCs, radios, sensors and heat-dissipation systems into a tiny chassis, whereas iPads have more internal space and simpler layouts. iPhones also include premium hardware—cellular radios, dual 48 MP cameras, OLED 120 Hz displays, MagSafe, NFC and IP water-resistance—that iPads lack, and they target a necessity market that commands higher pricing.