Imagination plans new MIPS CPU, PowerVR GPU as it looks to bounce back

It's been a rough year for Imagination Technologies. The CEO resigned in February, layoffs followed in the next month, and the cloud of a takeover hung over the company with rumored negotiations to purchase the company. The company is best known as a provider of PowerVR GPUs for Apple's iPhone and the MIPS CPU architecture, which competes with Intel's X86 and ARM. Imagination has its eyes set on a strong 2017 by taking an approach much like Intel did last year and refocusing on areas of growth, which include graphics and the internet of things. Imagination next year will release new PowerVR and MIPS chip designs, with the goal of driving growth in those areas.