It’s been a rough year for Imagination Technologies. The CEO resigned in February, layoffs followed in the next month, and the cloud of being a takeover target hangs over 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 set its sights 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. Imagination is following the path set by chip companies ARM and Intel, which have refocused their business around IoT.

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