I guess that's what's going to change more and more in our future. Just like apps/programs, movies, books, music tracks were our properties.
Where I am the loan would be on the purchasing money, so technically you own the device, but would have to pay your carrier the remaining price + some penalty if you needed to stop the contract, or give back the device + penalty if you are not in a position to pay. The device stays with you after the loan/contract period is done.
There is still the carrier lockin, so you can't change carrier willy-nilly before the loan is paid, but that wouldn't stop you from selling your phone to someone else using the same carrier for instance.
You can still finance the phone at a subsidized rate but the deals are with leasing.
Telus has "bring it back". You pay 0$ upfront for the phone, but do pay an additional recurring monthly fee for the phone.
After 2 years you bring the phone back. If u want to keep it you have to pay for the remaining cost of the device.
If I just financed it, lower end or older phones would be $0 upfront, but high end phones be paying $500 as an example upfront on top of the financed recurring fees.
Rogers has "upfront edge" where you pay 0$ upfront for a top end device. You have to return at 2 years.
Bell does the same thing with "device return options Lower upfront costs. The choice is yours: at the end of the 2-year term, you have the option to return your smartphone in good working condition, upgrade if you wish, or keep it and pay back the Device Return Option deferral amount.
Very much leasing.