LG Electronics (LG) has announced that it has signed an agreement to become a Global and Technology Partner of Formula 1. As part of this top level association, LG acquires exclusive designations and marketing rights as the official Consumer Electronics, Mobile Phone and Data Processor of Formula 1. The multi-year agreement runs from January 2009.
As the Official Data Processor of Formula 1, LG will be identified and credited on the official live timing service at Formula One events and in the associated timing and data TV graphics. It will also enjoy a comprehensive package of premium marketing rights worldwide in association with the Formula 1 brand.
Dermot Boden, chief marketing officer at LG Electronics, stated: “Formula One represents the absolute peak of technological innovation and style, which is also our vision for the LG Electronics brand. We feel the excitement and electricity of F1 is unmatched by any sport, and we feel the same passion and energy here at LG.”
Bernie Ecclestone, CEO of the Formula One Group, added: “LG is a leader in its field, it pioneers cutting edge technology, delivering innovation and excellence in a stylish package, which is what Formula 1 is about too. We have so much in common, I am very excited to begin our association and look forward to the technology solutions they can bring to us also.”