const fmc = require('../images/logo.svg');

Failed to load page at "../pages/home.js" ReferenceError: React is not defined
at Object.<anonymous> (/Users/me/Projects/myProject/dev/images/logo.svg:1:1)

export default (webpackConfig) => {
  webpackConfig.module.loaders.splice(0, 0,
    { test: /.woff(2)?(?v=d+.d+.d+)?$/, loader: "url-loader?limit=10000&mimetype=application/font-woff" },
    { test: /.ttf(?v=d+.d+.d+)?$/, loader: "url-loader?limit=10000&mimetype=application/octet-stream" },
    { test: /.eot(?v=d+.d+.d+)?$/, loader: "file-loader" },
    { test: /.svg(?v=d+.d+.d+)?$/, loader: "file-loader?mimetype=image/svg+xml" },
    {
      test: /.(png|jpg|gif)$/,
      loader: 'url-loader?limit=8192'
    },
    {
      test: /.(mp4|ogg)$/,
      loader: 'file-loader'
    }
  )
  return webpackConfig
}

<img src={require('../images/logo.svg')} />

└── react@0.14.8
└── react-server@0.4.8
└─┬ react-server-cli@0.4.9
  └── webpack@1.13.2