Apple iphone launch in india-has the apple which was known for its agressive pricing failed in india?

The much awaited apple iphone was launch in india on 22nd of august 2008. There where many prebookings for this phone(even my friend in india was one among the ones who booked the phone) considering the fact that the price of the phone which ranges from 200dollars which was quite low compared to its feautures. It was expected to me slightly higher than the price in us.but the sad part is that the phone has been priced 4times higher than the prices in u.s .i am just confused why the apple has priced it with such a high price tag in a country which has a large mobile market ! Anyway let us see how the indians react to it!