Juho Sarvikas, Chief Product Officer, confirmed it would put out a 5G phone next year at "half the current price." I'm sure he doesn't half the China price, now $500-700 for premium phones. More likely, he's thinking half the $1300 price of the Galaxy 10, $500-600. By the time HMD ships, the world price will probably be under $300; it will have to come in around that range to be a good choice.
That's one reason why China has about 3,000,000 5G connections and the U.S. so few none of the companies will admit how slowly they are moving.