Why are Iphones so expensive than other smartphones in the market?

Iphones are manufactured in China… So the manufacturing cost should be very low. Of couse, they have done a lot of R&D work… But so have other smartphone companies like Samsung, HTC etc

While you can get other smartphones in the market with same features as in Iphones (or even more features than in Iphone), why are Iphones so overpriced?

Samsung phones cause about the same price as Iphone.
Iphone 4S uses glass for the back body, so when you hold it, it feels smooth and prenium. Samsung phones uses plastic as a back cover which gives me a feeling of a cheap phone. Lets talk about the latest Iphone 5, it uses aluminium and glass which is really smooth, so it gives you a feeling that you are holding a really great phone.

There are no scientific reasons behind it. The tear down results reveal that the cost of manufacturing an iphone is about the same as any other highend android or windows phone of that time. So it's just to make gud use of the brand name "apple" and rake up more profits. The profit margins on iphones insanely huge - easily multiple time of that of any other smartphone.

Because that's the Apple way. They feel charging high prices makes their phones more premium, when it fact, iProducts have some the largest profit margins in the tech industry and in just about any industry in general, yet as you mentioned, they have the same features or even less features than other phones.

Although they use glass and aluminum in their products vs polycarbonate in phones like the Samsungs, they are in fact more fragile and break a lot more easily. I have seen many iPhone 4 and 4S with cracked glass, and the iPhone 5 Aluminum body is notorious for denting and the paint on it scratches easily, so much so that it has been documented that they even have scratches OUT OF THE BOX BRAND NEW.

Also in actuality, there are phones out there that are actually more expensive then the iPhone 5, but do have more features, such the the Samsung Galaxy Note 2.

Apple has loyal consumers convinced that their products are better.
All apple products are overpriced, I'm not just saying that since I own quite a few apple products.
I also own quite a few products on the android system and sure the exterior of the product isn't as beautiful as apples ipad, or iphone but that alone won't up the price $300.
In the end their major differences come down to personal preference and supply and demand.

Its because of the name Apple. Back in the days, when touchscreen phones were not common, Apple rised glory through the 1st gen iPhone. It was one of a kind back then, like no other. That alonr gave the company a solid foundation. Through the years Apple started bringing ever better iPhones. The phone was a luxury brand. And obviously luxury brands are more expensive. Take Toyota for example. Toyota sells the Land Cruiser at a low price than the corresponding Lexus version, even though both sport almost identical specs. Look at Mercedes, the SLS AMG costs as twices as the Nissan GT-R which has almost the same spec if not better.

Plus the finish of Apple devices is remarkably excellent. The front and back glass panel design seen on the iPhone 4 and iPhone 4S is undoubtably one of the most luxurious and premium finishes. Plus Apple uses aluminum and metal on its phones, which really looks cool and also adds to the production cost. Other brands, especially Samsung, are still stuck to hardened plastic materials, which feels and looks cheap and infact is the reason why they are cheap.

iOS is the other factor too.iOS is so good. Its simlicity and ease of acces might be the reason. Plus having one of the best and well established App Store is one thing too.

Apple is currently a luxury brand, simple as that. Even the font they use, a slightly modified version of the Myriad Pro, is hell expensive than other similar premium fonts.

Supply and demand. Because people will pay that price to have that phone. Apple will keep the price high.
If people would not rush out and buy the newest phone every time one is released, the price would drop and keep dropping until people started buying the phones.