There are big profits to be made by shipping iPads into theFar East, but there is more danger in doing so as smugglers are now facing larger mail costs, harsher customs, and the global rollout that will make them a less in demand item overseas.
Demand for iPads in countries such as China has helped spawn the iPad black market overseas; which is slightly ironic given the device is actually manufactured there. However, one quick look at the profit and it is easy to see why. A 16GB iPad that is purchased for around $500 in San Francisco can be sold for more than a thousand dollars over in Shanghai the very next day allowing for a 100% profit for the lucky smuggler.
An unknown Apple employee stated that you can guess that the first iPad arrives in China on the first flight that leaves the US on launch day emphasizing that smuggling is a lucrative and common occurrence. Of course other cities have plenty of buyers that have ill intents as well, with London Evening Standard reporting that black market smuggles essentially hijacked the Westfield Apple Store launch by handing over new iPads directly to European men of eastern descent.
It is getting harder to smuggle the devices back over to China however as customs authority in the country has told many shipping agents in the US not to accept iPad orders and warned travellers that they must declare all gadgets when the y cross the border and be willing to pay a 10% duty on all electronics which cuts into the profits.