The potential regulation is about the government making phones unlock automatically after two months of purchase. The regulation isn't about banning discounts or sales.
If the major telcos only offer exorbitant interest rates, some other player will step in and offer the credit at better rates that fairly price the risk.
I'm not all sure this is a good thing, but I can see the argument for why it might result in lower interest rates on phones.
None of this is going to matter to people with good credit.
The rule is about unlocking, not deals.
The carriers say this is bad for consumers.
Both those can be true and the current headline captures that.
Miraculously, carriers simply started offering "tabs" or other language where you pay the subsidized phone cost as an addition to your plan bill for the contract period, with a clause that if you cancel early you still have to pay up the difference.
Arguments in favour of locking are nothing but corporate apologia and business crying wolf.
What happens is the overall price goes up to offset those losses, even when it's not explicitly labeled as such. That's just basic economics. Empirically.