AMD is "losing share to Intel"
Chip maker Advanced Micro Devices has reported its seventh quarterly loss in a row as it continues to lose market share to its rival Intel.
AMD lost $1.19bn (£596m) between April and June, even though sales were up on the same period a year ago.
The firm said chief executive Hector Ruiz would be replaced by chief operating officer Dirk Meyer, but Mr Ruiz will remain as executive chairman.
The firm had warned this year that sales were weak in all product lines.
"Processors were weak. Graphics was in line," said Charter Equity Research analyst John Dryden.
AMD's results came days after Intel posted a 25% gain in net profit.
"They're losing share to Intel and they haven't been able to reverse the losses in spite of new products across server, notebook and desktop," Mr Dryden added.