Apple fans from India who want to own an iPhone will have to check twice to see if they can afford it.

The company has spiked the prices of the iPhone 6, iPhone 6s and 5s handsets soon after the launch of its latest smartphone, the iPhone SE. Out of the three models, the price of the iPhone 6 model increased the most, by a whopping 29 percent.

Sources familiar with the matter told the media that Apple chose to abandon its discount program that took place between January and March. The company was worried that the SE, which got chastised by reviewers for being a tad too expensive, will lag behind in sales if other iPhones have similar prices.

"So, the decision was taken to revise the price upwards," insiders from Apple India told Times of India.

To get more specific about the details of the modified prices, read on.

Prior to the revision, the 16 GB iPhone 6 was priced at Rs 31,000 ($466), while the 6s variant asked buyers to shell out Rs 40,500 ($609). Now, the price tag for an iPhone 6s is Rs 48,000 ($722), while an iPhone 6 can be purchased for Rs 40,000 ($602). In comparison, the 16 GB iPhone SE entered the Indian market at Rs 39,000 ($586). Seeing how the iPhone 6 and iPhone SE sported similar specs, it is easy to understand why the company wanted "a healthy buffer."

The more affordable iPhone 5s also got a bloated price, with an increase of 22 percent. The device used to cost Rs 18,000 ($271) but it currently sells for Rs 22,000 ($331).

Following a recent meeting between top Apple managers and key distributors for the Indian market, the company came up with a strategy that will pitch the device in a better fashion, and the price increase seems to be part of it.

Sources familiar with the matter pointed out that one of the reasons why the SE has low popularity in India is the device's tiny screen size. As the trend is for users to buy large-screen devices, even with low specs, Apple's device did not hit the mark.

Ming-Chi Kuo, an analyst with KGI Securities, noted that iPhone shipments will most likely remain under 200 million units during this year. It remains to be seen if the new marketing strategy for India will help the company surpass this threshold.