New Delhi (CNN Business) The biggest seller of smartphones in India says it is having to hike prices because of the slump in the value of the country's currency.

Chinese electronics firm Xiaomi raised the prices of several of its new products on Sunday, citing the sharp fall in the Indian rupee this year as the main factor behind its decision.

"[The] rupee has depreciated against the dollar by nearly 15% since the beginning of the year, which has resulted in a significant rise in input cost for us," the company said on Twitter

Xiaomi added 500 rupees ($7) to the cost of its Redmi 6 smartphone and 600 rupees ($8) to one of its Redmi 6A variants — an increase of about 6% and 10% respectively.

Those models now cost between 6,599 rupees ($91) and 8,499 rupees ($117). That's less than many rival products but still out of reach for hundreds of millions of Indians, who earn an average annual wage of less than $2,000.