<center>http://profitribes.com/wp-content/uploads/2018/06/xiaomi.jpg</center> <br/>2018 welcomed the Chinese smartphone and gadget maker Xiaomi Corp with a $1.1 billion loss. All these are caused by one-off accounting charges. However, if not because of these charges, Xiaomi has a profit of 1.7 billion which is boosted by smartphone sales and pushed its 88% rise.

Its forthcoming IPO is now considered to be the largest for the year 2018 and it already started its rally overseas which is anticipated to deliver a $10 million raise making the company value to $70 billion.

In fact, late last month, Xiaomi opened its first Xiaomi store in Paris, one in Milan and few more in Western Europe in the near future. It also has plans invading the US market although it would be a difficult task especially with the presence of the hurdles which Chinese companies face in the US. These overseas sales have contributed 36% of the entire sales which is already a good news compared to the 28% of last year.

Aside from making a name in the smartphone industry, Xiaomi is also broadening its scope as it pushes itself to software and internet services.

This quarter, the company earned 68% of total sales which is way better than the 70% sales for the entire year of last year.

<img src="https://steemitimages.com/DQmQgjv2awSp18k2oUSoaDXFi8ApCyCu2KYZ5XxC2dZ2Uw2/separador.png" alt="separador.png" /><br>

This article was written by <a href="https://steemit.com/@valerie15">@valerie15</a> and edited by <a href="https://steemit.com/@flashfiction">@flashfiction</a>. This article can be found on <a title="This link will take you away from steemit.com" href="http://profitribes.com/xiaomi-of-china-lost-1-1-billion-in-q1-of-2018" rel="nofollow noopener">PROFITRIBES.</a>
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