LG signs multi-year promotional deal with F1

LG is entering the fast lane after signing a  promotional deal with Formula 1. The Korean giant with become a Global and Technology Partner with FIA, beginning with the 2009 season.

As the ‘official Consumer Electronics, Mobile Phone and Data Processor of Formula 1’,  the comapny will be able to use F1 branding and will feature on timing and data TV graphics.

‘Formula One represents the absolute peak of technological innovation and style, which is also our vision for the LG Electronics brand,’ says Dermot Boden, Chief Marketing Officer 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.’

F1 visionary Bernie Ecclestone adds ‘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.’

The deal is a good move for both the sport and LG, both of which are feeling increasing pressure from global economic compression.
’In today’s climate, all organizations need to be strategic with their expenditures,’ says Boden. ‘Here at LG we can think of no more important investment than our brand. After having carefully researched marketing and sponsorship opportunities, I am confident that this exciting partnership will best highlight and enhance the profiles of both global organizations over the long term.’

The 2009 F1 season begins in Australia, in Melbourne on 29 March. UK TV coverage returns to the BBC from January, although it remains unclear as to whether any Grand Prix will be broadcast in high-definition.