A colleague sends some iPhone news from Hong Kong:
The iPhone 4 (which has been sold unlocked in China since September) has been unavailable from the Hong Kong Apple online store for a long time, maybe a couple of months and all the official outlets don't have any stock either. Smaller outlets are selling iPhone 4s for a 50% markup (!) and there are even guys selling fakes that look like iPhones, but don't have the Apple logo. The theory seems to be that the phones are being exported back into China and Apple has been trying to curtail this by limiting stock.