First Posted: Jul 28, 2012 04:38 PM EDT

Michael Phelps of the U.S. reacts after finishing in fourth place in the men's 400m individual medley during the London 2012 Olympic Games at the Aquatics Centre July 28, 2012. (Photo : REUTERS/Michael Dalder)

Ryan Lochte earned USA its first gold medal in the London 2012 Olympics with a win in the men's 400 meters individual medley on Saturday. Michael Phelps on the other hand, finished fourth.

Phelps who hoped to become the first swimmer to win gold in three consecutive Olympics for the same event failed to do so as his colleague, Lochte, finished the race with 4:05.18 - four seconds and tenth of a second faster than Phelps.

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Phelps still holds the World and Olympic record of the event with 4:03.84, a record he established in Beijing's 2008 Olympics, but his fourth placing is the first time since the 2000 Olympics that Phelps ends an event without a medal.

Thiago Pereira from Brazil placed second and Kosuke Hagino came in third.

Phelps still has a long agenda left in the Olympics as he will contend in six more events including three individual events. His next showdown against Ryan Lochte is set for Wednesday in the 200 meter Individual Medley race. The schedule for the race is as follows:

August 1

Men's 200m Individual Medley
6:06 a.m. ET - Qualifications
3:36 p.m. ET - Semifinals

August 2
Men's 200m Individual Medley
3:16 p.m. ET - Finals

To view Michael Phelps's full list of swimming events and Olympic schedule, click here.

Thiago Pereira (L) of Brazil, Ryan Lochte of the U.S. and Kosuke Hagino (R) of Japan hold their silver gold and bronze medals for the men's 400m individual medley at the London 2012 Olympic Games at the Aquatics Centre July 28, 2012. REUTERS/David Gray
Thiago Pereira (L) of Brazil, Ryan Lochte of the U.S. and Kosuke Hagino (R) of Japan hold their silver gold and bronze medals for the men's 400m individual medley at the London 2012 Olympic Games at the Aquatics Centre July 28, 2012. REUTERS/David Gray
Michael Phelps of the U.S. swims to a fourth place finish in the men's 400m individual medley final during the London 2012 Olympic Games at the Aquatics Centre July 28, 2012. REUTERS/Michael Dalder
Michael Phelps of the U.S. swims to a fourth place finish in the men's 400m individual medley final during the London 2012 Olympic Games at the Aquatics Centre July 28, 2012. REUTERS/Michael Dalder

 

Ryan Lochte (R) of the U.S., who won first place, shakes hands with third place finisher Kosuke Hagino of Japan in the men's 400m individual medley final during the London 2012 Olympic Games at the Aquatics Centre July 28, 2012. REUTERS/Tim Wimborne
Ryan Lochte (R) of the U.S., who won first place, shakes hands with third place finisher Kosuke Hagino of Japan in the men's 400m individual medley final during the London 2012 Olympic Games at the Aquatics Centre July 28, 2012. REUTERS/Tim Wimborne

 

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