Amman, Jordan: At the 2009 FORMULA 1 GULF AIR BAHRAIN GRAND PRIX this weekend, LG Electronics, a global leader and technology innovator in consumer electronics continues to bring the latest innovation excitements to the Bahrain International Circuit.
As A Global Partner of Formula 1™ and A Technology Partner of Formula 1™, LG acquires exclusive designations and marketing rights as the Official Consumer Electronics, Mobile Phone and Data Processor of Formula 1™.
"Formula One™ represents the absolute peak of technological innovation and style, which is also our vision for the LG Electronics brand," said Dermot Boden, Chief Marketing Officer (CMO) of LG Electronics. "We feel the excitement and electricity of F1™ is unmatched by any sport, and we feel the same passion and energy here at LG."
"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", said Bernie Ecclestone, Chief Executive Officer (CEO) of the Formula One group. "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."
H. S. Paik, President of LG Electronics Gulf FZE commented on this partnership saying: "Our partnership with Formula One™ is being used throughout the world. This exciting relationship, while only having just begun, is moving full speed ahead with activation on a global scale. We are hugely excited about the possibilities open to us and look forward to many years of creative and innovative work as our partnership progresses."
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. They will also enjoy a comprehensive package of premium marketing rights worldwide in association with the Formula 1™ brand.
CMO Boden added, "All organizations need to be strategic with their expenditures. Here at LG we can think of no more important investment than our brand. After having carefully researched many sponsorship opportunities, this exciting partnership best highlights and enhances the profiles of both global organizations over the long term."
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About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 84,000 people working in 115 operations including 84 subsidiaries around the world. With 2008 global sales of USD44.7 billion, LG is comprised of five business units -- Home Entertainment, Mobile Communications, Home Appliance, Air Conditioning and Business Solutions. LG is the world's leading producer of flat panel TVs, audio and video products, mobile handsets, air conditioners and washing machines. LG has signed a long-term agreement to become both A Global Partner of Formula 1™ and A 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 this global sporting event. For more information, please visit www.lge.com.
About Formula One™
Formula One™, which began in 1950, is the world's most prestigious motor racing competition and is the world's most popular annual sporting series. In 2008 it was watched by over 600 million unique television viewers from 188 territories.
The 2009 FIA Formula One World Championship™ which began in March, spans nine months and will be contested by ten Formula One™ teams. It will be staged over 17 races in 16 countries across five continents.
Formula One Administration Limited, a subsidiary of the Formula One group, was founded by CEO Bernie Ecclestone and holds the exclusive commercial rights to the FIA Formula One World Championship™.
For more information on Formula One™ visit Formula1.com.
© Press Release 2009
