It remains to be seen whether such a loophole will work, and there is not much for us to work with in the first place, apart from the fact that Meizu will be the one behind the manufacturing process, while Nokia, if they actually play a role here, will be working on the hardware design as well as software. A previously leaked photo did focus on the Home button which could jolly well carry a fingerprint sensor, but until the real deal comes out, we will not know for sure.
The handset is also rumored to come with a 20.7MP shooter with a large sensor, as well as 2160p video capture ability, and that would not be surprising at all taking into consideration Nokia’s ways with a smartphone camera. Ah well, only time will be able to tell whether this rumor will become fact or debunked.