When it comes to home theater setups, high-quality projectors have traditionally been the pricier way to enjoy your movies. Now, however, Chinese tech company Xiaomi is hoping to change that with its new cinema-quality Mi Laser Projector. Priced at a reasonable 9,999 yuan (around $1,470), Xiaomi's latest offering boasts a 150inch display and custom laser tech straight out of movie theaters.

The Mi Laser Projector utilizes ALPD 3.0 laser light source tech developed by Appotronics, the company behind the laser tech in 90 percent of China's movie theaters. Yet, Xiaomi doesn't end its cross-company projector collaboration there, as it also features its own custom digital light processing (or DLP) solution created by Texas Instruments.