[tim333]

> “repossess” them if the customer defaults

It's not usually like that - and I've had a few locked phones.

Usually the deal is that a network, say Vodafone, subsidises the handset by £50 of some such in return for you being forced to use Vodafone services for a couple of years, unless you arrange to unlock it.

It's sort of ok as a deal but a pain in many ways if you want to travel and use a local SIM or sell the phone for example.