Seven have annual sales over 100 million yuan ($15.5 million), and two have sales over 1 billion ($150 million). "We not only make excellent products, we make excellent startups as well," founder and CEO Lei Jun said. The company today outlined its focus for those disparate devices. The message: Xiaomi wants to create a smart home. At a press conference, CEO and founder Lei Jun spent a half an hour on Xiaomi's power strip and battery charger. He detailed the battery charger's beautiful brushed aluminum—and how a group of Chinese brands had already copied it. Another executive exhaustively detailed ricecookers. China's failure to produce its own high quality rice cooker is almost a national embarrassment. The state press has highlighted Chinese tourists traveling back from Japan grasping Japanese brands costing several hundred dollars. Xiaomi's costs $150 and can be controlled via Xiaomi's App.