17 year old geek makes $130,000 selling White iPhone 4 conversion kits
SMH: "I've read you've made over $100K in just a couple of weeks, is that correct?"
Fei Lam: "That number is bull. I made only 30-40k. 100k was income before cost of product. Every time a site picks up the story it changes a little bit..."
Source- http://www.smh.com.au/digital-life/iphone/legal-action-eyes-...
These kits (both legit Foxconn parts and third party bits&pieces) abound in Shenzhen. I think I saw more fake iPads than real ones, too, but until you start playing with them it's hard to tell they're not OEM.
That article is pretty light on content, however it does link to a better version: http://www.observer.com/2010/daily-transom/white-iphone-four...