Stocks rose sharply on Thursday after the Federal Reserve hinted at possible interest rate cuts as soon as next month.US Marketsread more
The billionaire investor believes the stock market is in a "zone of fair value" at current levels.Marketsread more
The Federal Reserve may be on its way to delivering a half-point interest rate cut next month, according to Goldman Sachs economists.Economyread more
However, Slack chief Stewart Butterfield says, "The broader world of email will stick around."CNBC Disruptor 50read more
Crude oil prices jump on news of the attack, which Iran says happened over its territory.World Politicsread more
Apple is considering moving some production from China as it is expected release of its new iPhone line this fall, The Wall Street Journal reported.Technologyread more
Workplace messaging firm Slack is about to go public in a red-hot IPO market, but it's approach to going public--using a "direct listing"--is slightly different than an IPO.Trader Talk with Bob Pisaniread more
The yield on the benchmark 10-year Treasury note fell below 2% for the first time since November 2016 on Wednesday.Bondsread more
National Securities' Art Hogan sees the U.S.-China trade war as the market's biggest risk – not Fed policy.Trading Nationread more
The Philadelphia Federal Reserve's manufacturing gauge tumbled this month, solidifying the Fed's case for easier monetary policy.Economyread more
Declining traffic to Olive Garden, Darden's top restaurant chain, resulted in weaker-than-expected revenue for its fiscal fourth quarter.Restaurantsread more
Xiaomi, founded just eight years ago in Beijing, quickly became a global tech juggernaut.
It's currently the fourth-biggest smartphone player in the world, according to market researcher International Data Corporation. While that's a significant position, it at one point occupied the third-place spot, behind Apple and Samsung, before ceding that to fellow Chinese firm Huawei.
Xiaomi isn't limited to smartphones, either. During a recent visit to a Xiaomi store in Hong Kong, CNBC saw customers testing out phones and smart watches on display, centered around products such as wallets, pillows and rice cookers.
The company generates most of its revenues from smartphones, but it has also expanded into other products like music and video streaming, too.
Xiaomi is scheduled for an initial public offering in Hong Kong in early July. That's expected to be the world's largest IPO since Alibaba went public in New York in 2014.
In 2017, Xiaomi’s sales grew more than 67 percent from the year prior, leading some to call it "China’s phoenix."
While Xiaomi is less known to U.S. customers, the company is active in 74 markets, has nearly 15,000 employees, and says it has more than 300 million people using its products and services.
Xiaomi’s head of international business told CNBC, however, that the company has plans to enter the U.S market.
Like many companies, Xiaomi wants its smartphones to be just the start of an entire tech ecosystem for its users, which which may partially explain why it’s sometimes referred to as the "Apple of China."
When it was first founded, Xiaomi only sold its products directly to consumers online in an effort to reduce overhead costs.
The company says it avoided spending money on advertising and relied on brand loyal customers to spread the word.
But its sales fell in 2016 as new low-cost players entered the market and the company found difficulty reaching new customers, particularly those in China’s smaller cities.
It’s now expanding its footprint beyond China, opening stores in Europe — including locations in Milan and Barcelona —and forming retail partnerships in the U.K.
Xiaomi plans to open 2,000 stores worldwide by 2019, with just about half of them in China.
While the industry news is concerning for smartphone players, Xiaomi global sales actually surged 88-percent in the first quarter of 2018, according to IDC. That's compared to a slight decrease for Samsung and a slight increase for Apple.