Apple is not going to sell the phone directly to customers.

You obviously haven’t read in detail about the pricing strategy.  In US, you can only buy the phone if you sign up for a 2 year contract with AT&T. Apple sells the phones to AT&T at over $350. AT&T will sell you the phone for $199, but will recover the rest, by binding you to a contract, over 2 years. In India, the phone will not sell for anything less than Rs. 15000 since there will not be any contract.