Whitelabelling a mobile application is a great way to repurpose the same code (built in a previous app development projects) and re-skin them several time to maximise your return on investment.
These types of software development projects are highly cost effective and can be structured for you to resell a number of whitelabel solutions, with similar/same functionality over and again.
This is extremely effective when testing different marketing angles. An application with a particular use could easily be used for a number of different markets, however the marketing message differs for each market. When whitelabelling an application you wrap the application in brand new graphics, new icon and even new content/text to create a tailored experience for your users.