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That would be commercial prices for each component. Due to the volume, guaranteed orders and (almost) in-house integration, the cost to Nintendo will be much lower.

Also, the most expensive things in the console (processor, memory, mainboard and graphics) are impossible to price externally since they are custom made on a private contract. I imagine they are being sold almost at cost price, and with silicon once you've designed one each further one is very cheap compared to the street price.