Apple (AAPL) raised prices on its existing iPhone lineup in India by as much as 41% after the launch of newer models, multiple media outlets reported Thursday.

The price of the iPhone 17 with a lower-storage rose nearly 21% to 99,900 Indian rupees ($1,047), while the price of the 1-terabyte iPhone Air rose 41% to 224,900 Indian rupees, according to the reports.

Apple previously disclosed plans to raise iPhone prices globally due to growing memory and storage chip costs, according to the reports. The company also increased prices in the US late Wednesday, with hikes ranging from 10% to 21%, the reports said.

India is one of Apple's fastest-growing markets and has become a major manufacturing base for iPhones. However, import duties on components and an 18% goods and services tax continue to contribute to higher iPhone prices in India compared with the US, according to Reuters.

Apple did not immediately respond to requests for comment from MT Newswires.