Correction: An earlier version of this story’s headline implied that the expected sales are to come from Xiaomi’s first-party hardware. The expected sales are to come from third-party companies that Xiaomi has invested in.

Lei Jun, CEO of Chinese smart device maker Xiaomi, is known for making ambitious predictions. This year is no different: At the 2016 China Mobile Global Partners Conference last week, he announced the company has invested in 77 hardware makers with total sales expected to be 15 billion RMB (2.2 billion USD) this year alone.

Only a few product categories are designed and made by Xiaomi itself even though it offers a wide variety of hardware products. The company unveiled a “100-hardware-company” strategy in 2014, aiming to invest in all kinds of consumer electronics companies. Branded as Mijia (米家 or Mi Home) in March, Xiaomi has partnered with Shunwei Capital, a VC firm co-founded by Lei Jun, to sell white-label products through Xiaomi’s online and offline channels.

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Tracey Xiang

Tracey Xiang is Beijing, China-based tech writer. Reach her at traceyxiang@gmail.com