♪ emily: xiaomi has also been accused of copying. ives referred to xiaomi's phones as theft.id you stole his designs. how do you respond to that? hugo: so this copycat melodrama boils down to one edge on one phone model which people said it looks like the iphone 5. and i have been the first one to admit, yes, it does look like the iphone 5. the edge is present in many other devices. it was in many ways people projecting their bias against chinese companies on to us. people just could not bring themselves to believe that a chinese company actually could be a world innovator, could build amazingly high-quality products, and by the way, sell them for less than half the price. i think that drama has quickly started to vanish. and i would actually point out to the device you have, there is nothing you can point to that a resembled it. emily: you don't think it looks like the iphone 6 plus? hugo: it is white. [laughter] how else does it look like an iphone 6 plus? emily: emily: you said it comes down to one feature, but the criticism was the look and feel of the product in general.

joining me today xiaomi vice , president of global operations, hugo barra. so gre

let's have a look at the smartphone maker xiaomi.t, it was challenging apple and samsung for supremacy in its own market but missed its sales target by 10% last year. president says xiaomi is profitable and doesn't need to raise more cash. >> we are not raising at this point. our last raise was in december of 2014. we raised over $1 billion. that gave us a huge amount of investment firepower. we have been making some investments as part of our smart home business. the business itself is operationally self-sufficient. we'll need to raise any more money beyond the round we did, which was focus on investments. >> how long do you think this can last? >> we are operationally self-sufficient. i'm saying we are a profitable company. >> as of when have you become a profitable company? >> for a long time. we should look at how much money we've raised considering how heavy from capital expenditures is a smartphone business. you know right away we've been a profitable company for a long time. >> last year, you sold within 70 million handsets. t

bloomberg covers it all, from apple to xiaomi. >> it was a profitable company for a long time.: and in the weeks best interviews, influential people speak on topics of critical importance. y

xiaomi says they have no plans to go public. the company was value. $5 billion in 2014 -- was valued at $45 billion in 2014. the ipo is not on the agenda for the time being. sales fell short last year, but they plan to introduce a high-end advice. breakingen a record zor zoor utopia -- four topia. that with a look at some of the stories making headlines. rates: negative interest at central banks good policy. the so-called central bank says it is not clear how long this will be affect the. >> there has been a lot of criticism from banks and others in the financial industry that the negative rates are negatively impacting money markets, impacting cash. concern the ecb, the boj policy and some of the policies out -- elsewhere -- switzerland has the lowest rate, -75 basis points. we did also has a low rate. there is a new study which validates these rates because they say the current negative rate policies are working. what does this mean? they say banks seek to avoid negative rate by extending maturities are lending to counterparties. going forward, ther

bloomberg covers it all, from apple to xiaomi. >> it was a profitable company for a long time.ejra: and in the weeks best interviews, influential people speak on topics of critical importance. >> you would rule out the possibility of using nuclear weapons against isis? donald trump: i am never going to rule anything out. nejra: it is all straight ahead on "bloomberg best." ♪ nejra: hello and welcome. i am nejra cehic. this is "bloomberg best." a weekly review of the most important business news, analysis, and interviews from bloomberg television around the world. in retrospect, this week has been dominated by tuesday's tragic terror attacks in brussels. but on monday, attention was focused on silicon valley and a major product announcement from apple. emily: apple unveiling a new iphone called the se at its event in cupertino. a smaller screen and a smaller price tag, starting at $399 for the cheapest new iphone ever. what are your big takeaways? cory: i think it's just interesting. i was making an analogy with the golden state warriors. how rather than go big or go home, the o

bloomberg covers it all, from apple to xiaomi. >> it was a profitable company for a long time.ejra: and in the week's best interviews, influential people speak on topics of critical importance. >> you would rule out the possibility of using nuclear weapons against isis? donald trump: i am never going to rule anything out. nejra: it is all straight ahead on "bloomberg best." ♪ nejra: hello and welcome. i am nejra cehic. this is "bloomberg best." a weekly review of the most important business news, analysis, and interviews from bloomberg television around the world. in retrospect, this week has been dominated by tuesday's tragic terror attacks in brussels. but on monday, attention was focused on silicon valley and a major product announcement from apple. emily: apple unveiling a new iphone called the se at its event in cupertino. the latest model has a smaller screen and a smaller price tag, starting at $399 for the cheapest new iphone ever. what are your big takeaways? cory: i think it's just interesting. i was making an analogy with the golden state warriors. how rather than go

xiaomi says it has no current plans to go public. -- playedy was bowing at $45 billion following a funding to help it secure more than $1 billion from investors. is not onys an ipo the agenda for the "time being." shorthells -- shares fell last year, but plans to introduce a high end device. money managers shifted and time to reap the biggest weekly advance in five years, prices rebounded 18% since january when futures were trading at the lowest since 2009. optimism running after mine owners announced cutbacks to help erode the global glut. investors also betting that a stabilizing global economy will lift the man. china's slowdown on the falling commodity prices have taken their toll on a straighter, but there are signs demand is coming back. talking with the minister for resources and energy earlier, and he tells us where the bright spots are. an increase in prices in recent days, for example around iron ore, but what has been the major factor in the lower prices across the resources and energy spaces has been the increase in supply, not as much as the changes in the demand, so eventuall

bloomberg covers it all, from apple to xiaomi. >> it was a profitable company for a long time.al people speak

bloomberg covers it all, from apple to xiaomi. >> it was a profitable company for a long time.ejra: and in the weeks best interviews influential people , speak on topics of critical importance. >> you would rule out the possibility of using nuclear weapons against isis? >> i am never going to rule anything out. nejra: it is all straight ahead on "bloomberg best." ♪ nejra: hello and welcome. i am nejra cehic. this is "bloomberg best." a weekly review of the most important business news, analysis, and interviews from bloomberg television around the world. in retrospect, this week has been dominated by tuesday's tragic terror attacks in brussels. but on monday, attention was focused on silicon valley and a major product announcement from apple. >> apple unveiling a new iphone called the se at its event in cupertino. with a smaller screen and a smaller price tag, starting at $399 for the cheapest new iphone ever. what are your big takeaways? >> i think it's just interesting. i was making an analogy with the golden state warriors. how rather than go big or go home, the old tradition

bloomberg covers it all, from apple to xiaomi. >> we know right away that we have been a profitable companyor a long time. nejra: and in the weeks best interviews, influential people speak on topics of critical importance. >> you would rule out the possibility of using nuclear weapons against isis? donald trump: i am never going to rule anything out. nejra: it is all straight ahead on "bloomberg best." ♪ nejra: hello and welcome. i am nejra cehic. this is "bloomberg best." a weekly review of the most important business news, analysis, and interviews from bloomberg television around the world. in retrospect, this week has been dominated by tuesday's tragic terror attacks in brussels. but on monday, attention was focused on silicon valley and a major product announcement from apple. emily: apple unveiling a new iphone called the se at its event in cupertino. with a smaller screen and a smaller price tag, starting at $399 for the cheapest new iphone ever. what are your big takeaways? cory: i think it's just interesting. i was making an analogy with the golden state warriors. how rather than go

xiaomi has no plans to go public, invited at $45 billion in 2014, a funding round secured more than one saying anexecutive ipo is not on the calendar. it is planning to introduce a high end device. shareholders have voted to oftinue back the chairman the retail conglomerate, holding a meeting over the weekend after an internal this beaut. he was proposing to form a new board of directors, giving himself the role of chief executive. he says he intends to resubmit the proposals of the next shareholder meeting in june. alliance, equities sources saying the japanese banks security division will provide research on stocks. the london-based company would carry out transactions for clients. japan's biggest lender hoping to lure investors. 'sis is part of the pboj introduction of negative interest rates. that for the big four banks set to arise -- to rise. a lot of publicity here. given australia's expensive housing market, but the concern is over corporate loans. paul: that is right. mining, agricultural, and dairy are the sectors the most aggressive by the survey, which sees the mount of mone

bloomberg covers it all, from apple to xiaomi. >> it was a profitable company for a long time. nejra: influential people speak on topics of critical importance. >> you would rule out the possibility of using nuclear weapons against isis? >> i am never going to rule anything out. nejra: it is all straight ahead on "bloomberg best." ♪ nejra: hello and welcome. i am nejra cehic. this is "bloomberg best." it's a weekly review of the most important business news, analysis, and interviews from bloomberg television around the world. in retrospect, this week has been dominated by tuesday's tragic terror attacks in brussels. on monday, attention was focused on silicon valley and a major product announcement from apple. unveiling a new iphone at an event in cupertino with a smaller screen and a smaller price tag, starting at $399 for the cheapest new iphone ever. what are your big takeaways? >> i think it's just interesting. i was making an analogy with the golden state warriors. rather than go big or go home, the old traditional basketball adage, they found that small ball works well fo

the real growth story is the private sector. , thethe future alibaba's future xiaomi's.you can't get in the index that venture capital is getting. those are in the higher growth sectors, even if gdp is flat or negative. you find areas that are growing at 20%. stephanie: you were going to stay with us. toare going to change morning meetings. the estimates of the high-end reeler -- retailer said that sales may drop 20% in the coming year. numbers.reak down the i want to make this clear. shares are inching hires. they are going to have a buyback. when you look at same-store sales, they are down 20%. that's not a good picture. >> it's not near term. we recently upgraded the stock. it's more of a margin story. we have commodity cost down. diamonds, silver, platinum are down. this company listed 63% gross margins year over year. the top line was tough, the margin story is compelling. long-term, there is rising global wealth. he will be talking about the foreign currency issues. the dollar is starting to weaken again. we are excited about tiffany over the long term. we have a m