The iPhone 6s does not come cheap, but for a certain country, the price tag is the highest that customers need to pay to acquire Apple's latest smartphone.

The iPhone 6s will be launched on Oct. 16 in India, which is three weeks after the device was released to most of the western world. In addition to the delayed launch, customers will have to pay the most for the iPhone 6s compared to all other countries.

In India, the price tag for the 16GB model of the iPhone 6s is 62,000 rupees, which is equivalent to $955. The 128GB model of the iPhone 6s Plus, on the other end of the spectrum, will come with a price tag of 92,000 rupees, which is equivalent to $1,415.

Using the bottom and top models of the iPhone 6s as the reference points, CNET pointed out that Indian customers will be paying $306 more for the 16GB iPhone 6s and $466 more for the 128GB iPhone 6s Plus.

What is ironic with the high selling prices for the iPhone 6s in India is that it could prove to be a costly decision for Apple, as analysts are saying that with prices too high, almost all of the prospective customers for the device will not be able to afford the smartphone.

Rival Samsung has a presence in India, with the Galaxy S6 coming with a price tag of 40,000 rupees, which is about $615. However, the best-selling smartphones are the budget devices that come with price tags below the equivalent of $200, such as the RedMi line of Chinese mobile phone manufacturer Xiaomi and the devices released by local company Micromax.

"Anything above 60,000 rupees is way out of reach for even an average rich urban consumer," said Counterpoint Research director Neil Shah.

Apple had good sales in India for its last fiscal year of October 2014 to September 2015 with 1.7 million units sold, representing an increase of 55 percent compared to the previous fiscal year. However, only half of the iPhones sold during the period were from the iPhone 6s series, which according to Shah, reflects the price affordability of the iPhone customers in India.

The iPhone 6, upon its launch last year in India, had a price of 56,000 rupees for the 16GB model, equivalent to $865.