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Apple is finally giving India a decent iPhone it can afford.

The company today announced that the newly introduced 32GB variant of the iPhone SE will start at Rs 27,200 ($415), down from the Rs 39,000 ($600) sticker price at which the iPhone SE base model retailed in the country last year.

SEE ALSO:The coming app-pocalypse could kill some of the iPhone's greatest hits

The 16GB and 64GB iPhone SE variants will be phasing out in India as well, though you can expect to see some great deals on those models in the country in the coming weeks.

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According to marketing research firm Counterpoint, the company had shipped only about 60,000 iPhone SE models in India last year. Earlier this month, Apple also introduced a new variant of the three-year-old iPhone 6, now featuring 32GB internal storage as well.

Apple sees big opportunity in India. But despite it being one of the rare markets where iPhone sales are growing, majority of the iPhones sold in the country were four-year-old iPhone 5s models. According to research firms, more than 50 percent of the iPhones shipped in India were iPhone 5s models. The base iPhone 5s retails at around 19,000 ($285) in the country.

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