It's $650 in a world in which you don't have tariffs with China.
In a world in which you do, you pay more for the machines, the materials, the components you can't make in the US (a phone is thousands of component, phone makers don't make most of them), etc.
It's probably $650 to design it, build half the parts, ordering most other parts and assemble them.
Now what's interesting with the tariffs is that it's not just it will make the parts you can order more expensive, it will make the supply of such parts available to you restricted since you are now competing with buyers that don't have tariffs and can outbid you easily.
Or course, all this include rare earth supply which China already restricted for US export, so even the part you can make are going to be super expensive. The premium is going to be way more than the tariff ones.
Finally, since you are not going to be able to sell to the Chinese market of 1.5M of people, you will sell fewer phones, meaning your volume effect will be lower.
Meanwhile, competitors from Asia and Europe will be able to sell to the rest of the world, unrestricted by such problems, so much more price competitive and with a more robust cash flow. So you will lose markets in other areas too, hitting your volume effect even more, possibly sending you spiraling.
Elixir's ecosystem is much farther ahead than Gleam, so if you want to actually achieve stuff without pauses to fill the gaps yourself, then Elixir is the way to go.
And don't get me wrong, I love the idea of Gleam, a lot (Rust syntax, strong static typing, what's not to love?). But my PL early adopter days are over.
I think it's just a convenient and popular language to experiment with.
For production systems, people just use Python + Rust when needing a balance between dynamism and strictness. The tooling to mix them is very mature and the communities are overlapping.
With uv becoming the defacto packaging solution for python, I expect the border to blur even more in the future.
Western societies have higher social trust which enabled them to outcompete the rest of the world. Business moves at the speed of trust. Now that western society has increasing contact with the low trust world it is regressing to the mean.