Jolla is too small of an entity to pump (tens of) millions of phones into markets; and from what we know, they don't have the investments to run as is for x years. Nor do they have the cash for multinational marketing campaigns to build demand.

Considering all of this, I would suspect the actual Jolla Phone to be sort of a Nexus-like device - not in specs, but as a vanilla flagship for what can be done by others. Sell several thousand to the rabid followers. Produce one per year as the OS and Other Half possibilities mature. As mentioned, the proof of concept phone.

The play then is to have manufacturers and/or carriers license Sailfish and produce the devices, and distribute them. This is the only way I can see Jolla surviving.