A more efficient graphics chip is also a smaller one, and smaller chips are often cheaper to manufacture and install. That means Imagination can offer chips with higher resolution and performance for the same price as the current generation. Given that there's so little difference between so many low-end smartphones these days, being able to offer better graphics is a big deal. It's also expected that the VR8XE chip will sip, rather than guzzle, at the smartphone's power reserves. Joe Chen, co-CEO at MediaTek, is pretty excited about the technology, saying that he's "delighted" to be one of the first firms that'll get access to the goodies.