In the face of mounting regulatory pressure, Google CEO Eric Schmidt is resigning from Apple's board of directors as the search company rolls out products that compete with Apple's offerings.

Schmidt has held the position since August 2006. In the succeeding years, the two tech titans have found themselves increasingly competing in hot areas like the mobile market, where Apple's (NASDAQ: AAPL) iPhone series is being challenged by smartphones based on Google's (NASDAQ: GOOG) nascent open-source mobile operating system, Android.

Then there's Apple's Safari Web browser, which now competes with Google's nearly year-old Chrome browser. Both browsers are based on the WebKit rendering engine.

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