Intel will upgrade its flagship PC chip in the beginning of the year, but it will keep the current name.

"Prescott," the code name for an optimized version of the Pentium 4, will continue to be sold under the Pentium 4 name, according to sources close to the company. Prescott chips will contain 13 new instructions to improve multimedia performance and run at higher speeds than existing Pentium 4s.

Read more: CNet News.