Google Glass currently carries a hefty $1500 price tag, but according to a Teardown.com  report, it costs Google significantly less than that to assemble the device.

Teardown.com, a website run by Tech Insights that takes apart and analyzes consumer gadgets, got a hold of the Glass and released its initial estimate of the product’s bill of materials Wednesday. The total cost of the Glass hardware came in at $79.78, only a little more than five percent of its retail price tag, Teardown.com found.

The single most expensive part inside Glass is a Texas Instruments OMAP 4430 applications processor, which costs $13.96. Other components include a $5.66 camera, a $3 display, and a $8.18 16GB NAND flash memory from Toshiba.

A Google spokesman told The Wall Street Journal that Teardown.com’s cost estimate was “absolutely wrong,” but declined to comment further.

One possible reason for the discrepancy, noted in the WSJ report, is the Glass display, which delivers  extremely high resolution on a surface area only a few millimeters wide. This feat could have been expensive to design and manufacture, but Teardown.com estimates that the display, touchscreen and glass cost Google only $3.

CNET additionally points out that even if completely accurate, such hardware costs do not include the amount of money Google poured into research and development at its Google X lab, as well as the design and branding costs built into the device.

Teardown.com acknowledged that its figures were only a rough estimate, and are likely to change when it completes its more in-depth analysis of the product soon.