It may well be that the graphics chip is the problem
If it is, the solution is a repair.
If it's under warranty, then your course of action is to return it. If it's out of warranty, but still pretty new, you should still have a repair or replacement right under the Sale of Goods Act.
Technically speaking, if the graphics is faulty, and it's on the motherboard, than a new motherboard would be required - which in practical terms may even mean a new system.