Why is the 64gb iPhone so expensive?

The components are the same across all 3 iPhone 5 models so why would adding 64gb jack up the price so high?

Because its extra memory.iPhones are completely overrated anyway. I'm not being biased because I don't have an iPhone, it's just how it is to me. My parents are getting the iPhone 5 but I told them I wanted the Samsung Galaxy S3. The S3 that I'm getting only has 16GB but I can put in a memory card of like up to 60-something GB. So the phones we're gettin are the same price… But iPhones are so limited.

I pre-ordered the 64GB version. Yes the components are all the same but its all about memory. I have a bigger than average iTunes collection. 10.5GB (1300 songs) its not a lot because I know people who have a lot more but compared to many people its really big. Also I have tons of concert movies, tv shows, apps, documents, powerpoints etc… Its nice for me to have that 64GB. And ever since the iPhone 3GS (w/ 32GB) I would just sell the phone and use that money to by the 32GB of the iPhone 4, then after iPhone 4 I sold it for the 4S and used that money to buy a 64GB 4S and just 3 weeks ago I sold my 64GB iPhone 4S, and I used half the money for the new iPhone 64GB plus accessories and apple care and the other half just threw it on my debit card