Xiaomi Posts $1 Billion First-Quarter Loss Ahead of Blockbuster IPO

Chinese smartphone maker Xiaomi booked a first-quarter net loss of CNY 7 billion ($1.09 billion or roughly Rs. 6,800 crores) ahead of its blockbuster initial public offering. That compares with a net loss of CNY 43.89 billion (roughly Rs. 46,000 crores) for the whole of 2017, according to its draft prospectus. When one-off items are excluded, Xiaomi said […]