Andy Rubin's long-term plan for Essential

After unveiling his new smartphone earlier in the day, Android co-founder Andy Rubin talked Tuesday night about his broader plan for Essential, his new consumer electronics company.

The company, which has around 80 employees, is doing a phone and a home device, but longer-term Rubin says he wants to create a whole new consumer electronics brand.

"It's a new brand," Rubin said, in an interview at Code Conference. "It's not just phones. You have a rare opportunity when the market is saturated."