Previously the network had refused to unlock handsets based on the grounds that it had an exclusive deal with Apple. Now that deal has come to an end, it seems O2 isn't too sure if it wants to allow its iPhone users to jump ship.
Speaking to The Register, O2 said: "We did not offer unlocking at the end of a customer’s iPhone contract as we had the exclusive contract for the iPhone in the UK.
"Obviously, that situation has changed and we are currently working through what will happen."
If O2 decides to stick to its guns, you'll be forced to go down the unofficial unlocking route, or be stuck with a phone locked to the O2 network. We know the route we'd be likely to take.
What do you think to this? Does O2 have a write to keep its iPhones locked? Let us know below, and check out our smartphones top 10 to see if the iPhone is really worth all the fuss.