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Bloomberg is citing "three people familiar with the plans" who say the white iPhone 4 will begin shipping in the next few weeks.



From TUAW:
The white iPhone was delayed a number of times because Apple was reportedly not happy with the quality of the paint. Apple even went so far as to go back to the drawing board and partnered with a Japanese manufacturer to create a new type of paint that allowed for greater control of the thickness of it when applied to a material.
  Bloomberg: White iPhone 4 to arrive by the end of April