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Sick of Apple's Delays, NY Teen Sells Authentic White iPhone Kits

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You have to hand it to Apple. The fervor for a Verizon iPhone might be one thing, but you don't see many people clamoring for a Droid of a different color.

Since the company's announcement on the future availability of a white iPhone 4, delays have pushed the device further and further back -- now tentatively scheduled for Spring 2011. But why? Apple says the model is "more challenging to manufacture than we originally expected." Bear in mind, it should only be a white case around the iPhone 4's existing guts -- unless there's something Cupertino isn't telling us.

The delays have frustrated an already impatient fan base, leaving one such entrepreneurial lad to take matters into his own hands.

Fei Lam, a high school senior from Queens, has a Chinese contact with "associates" working at Foxconn -- Apple's troubled overseas supplier. Fluent in Chinese, Lam was able to finagle a deal with the insiders and have the necessary parts shipped directly to him. Lam then set up the site WhiteiPhone4Now where visitors can order the authentic parts to redesign their existing iPhones into white conversation starters.

And after a sluggish launch, Lam is earning media attention and raking in the dough to the tune of $130,000. He tells the Observer, "I'm very thankful, 'cause for months I was struggling for an idea that would bootstrap my first startup and help pay for college." He's hoping to attend NYU, where the $130K should almost pay for his first semester.

But all's not well in Lam's ivory tower.

"I got an email from a private investigator accusing me of selling stolen goods, which I'm 100 percent sure is not the case. They are some kind of anti-counterfeit/trademark firm, which sounds ridiculous, similar to what Apple is bringing up to remove White iPhone 4 Listings on eBay. I don't know how this legal stuff works."

Like a true businessman, Lam's lawyering up and has no plans to take down the site.

Careful, Fei. Stronger men have gone up against Steve Jobs and have come back missing fingers.
POSITION:  No positions in stocks mentioned.