Apple Inc. (NASDAQ:AAPL) is likely to release a bigger iPhone model, dubbed the iPhone 6, later this year, for which the company is expected to charge $100 more than the price of the current device, according to an analyst.

Tavis McCourt, an analyst at Raymond James Financial Inc. (NYSE:RJF), said in a research note that many iPhone users will be willing to shell out an extra $100 for a new version of the handset with a bigger 5.5-inch screen and Apple is also expected to increase the device’s price accordingly, because, as some analysts say, the higher price tag most probably will not affect the device’s sales.

"Apple will likely charge a $100 premium for the 5.5 inch version that media reports have suggested will be available a few months after the 4.7 inch version,” McCourt wrote in the note, according to MarketWatch. “Our June consumer survey points to continued growth in the willingness of iPhone users to pay $100 more for a bigger screened iPhone, with now a full one-third of survey respondents willing to pay a $100 premium.

“Data seems to suggest meaningful demand for a larger screen, which should logically mean the iPhone 6-cycle will be strong for upgrade sales, which combined with modest contribution from wearables should cause a modest acceleration in revenue growth in fiscal 2015,” McCourt said, raising Raymond James’s price target for Apple to $102 from $86 with an outperform rating.

However, iDownloadBlog reported about its own poll's findings, which revealed that nearly 60 percent of respondents said they would not pay an extra $100 for the bigger iPhone.

Apple’s iPhone 6, which is expected to be released sometime in September or October, is likely to come with new features, such as iOS 8, a faster processor, an improved camera and compatibility with the iWatch, the company’s upcoming wearable device.