The Gunners travelled to Leicester in search of three points after last weekend's 2-2 draw with Everton, but headed back to North London with just the one point following a 1-1 draw with the newly promoted Foxes.
Manager Arsene Wenger went for a 4-2-3-1 system this time as Yaya Sanogo led the line, with Santi Cazorla, Mesut Ozil and Alexis Sanchez supporting him from attacking midfield positions.
And it was Chilean international Sanchez who gave them the lead, turning the ball into an unguarded net after Sanogo had broken the offside trap. It was Sanchez's first Premier League goal for the Gunners since his £32m move from Barcelona earlier this summer, following up from his first goal for the club against Besiktas in the Champions League qualifying tie in midweek.
However, Arsenal couldn't hang on to their lead for long as Leicester's record signing Leonardo Ulloa set about repaying some of his £8m transfer fee with a great header at the back post to bring Nigel Pearson's side level. The Argentine joined from Brighton this summer and having scored against Everton on the opening day, the 28-year-old is becoming a dangerous striker for the Foxes.
Arsenal went on to bombard the Leicester goal from that point on, with almost 70% of possession and a whopping 33 shots on goal - but only nine were on target as they failed to break Leicester down, leaving them with a point.
The result leaves Arsenal down in seventh place, whilst Leicester move up to 15th having picked up their second point of the season.