Fortunately, apple and google corporate policy != law. If a company buys a device... and let's an employee use it. There's no amount of rules or policy that makes it the employee's property. It's company property. If you want to claim it's employee property then you'd at the very least be lying to the IRS as it would be considered a form of payment.

The real unfortunate part is that Apple or Google will never be incentivized to fix it because in this case you as the employee would be on the hook for "theft"/bricking of the device.