Not wanting to go into numbers, at least they target the right markets!
We as users can only profit from intex offering to 1 Billion potential customers.
Also mi-Fone has a good strategie, operating from central african country Nigeria, it could be possible to expand to the whole continent.
mi-Fone is propagating the hastag #miAfrica, indicating this ambition.

Looking from outside, jolla is exactly doing what i personally would suggest every small business:
Find, focus and specialize on your core product.
Offer it to the broadest potential customer base possible.
Operate with minimum risk.

So after,
"Hey, we need 100.000* Phones sold per year to survive in HW Business, aah no problem, we will make it"
and
"Woohoo, look, here TABLET, BestofMobile Award, we compete with frikkin' Apple"
and
"uuhuuu, we are sinking*, please support us with all* you got",

licensing business of a 92%* finished product with minimal effort in distribution and focused forces into development sounds like a sane idea.

*exaggeration or personal empiric measurement