Seoul, Korea, November 3rd, 2008- LG Electronics, Inc. (LG), a worldwide technology and design leader in mobile communications and Microsoft Corp. (Microsoft), the worldwide leader in software, services and solutions, today announced the signing of Memorandum of Understanding (MoU) to form strategic collaboration in Mobile Convergence.
The agreement was signed in Seoul by Yong Nam, Vice-Chairman and chief executive officer of LG Electronics and Steve Ballmer, chief executive officer of Microsoft.
“This agreement between LG and Microsoft will create critical momentum in the industry,” said Yong Nam at the announcement ceremony. “With this partnership, mobile computing will truly become an everyday reality, and LG and Microsoft will be at the forefront of it.”
“This MoU further strengthens Microsoft relationship with LG and demonstrates our joint commitment to delivering the most innovative mobile experiences to our customers,” said Steve Ballmer. “We are excited that leading mobility solutions providers, such as LG, are aligning with our vision for mobility.”
The agreement ensures continued strategic collaboration in R&D, marketing, applications, and services in the field of converged mobile devices. The proposed partnership also reflects both companies’ commitment to leverage best-in-class technology, resources and expertise by joining forces with leading players in key markets.
In particular, as a part of its strategy to reinforce LG’s global competitiveness in smartphone, LG sets mid to long term goals and documentaries number of products, R&D, marketing, and service to meet these goals. Under the MoU, converged mobile device business will be reinforced through incorporating LG’s core competences in marketing and products in mobile and IT sector and Microsoft’s proficiency in Windows Mobile OS, application, and service.
Both companies will continue to define and align their mobile strategies through annual top management meeting.
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About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, home appliances and mobile communications, employing more than 82,000 people working in 114 operations including 82 subsidiaries around the world. With 2007 global sales of USD 44 billion, LG is comprised of four business units - Mobile Communications, Digital Appliance, Digital Display and Digital Media. LG is the world’s leading producer of mobile handsets, flat panel TVs, air conditioners, front-loading washing machines, optical storage products, DVD players and home theater systems.
LG Electronics Mobile Communications Company is a leading global mobile communication and information company. LG creates handsets that provide an optimized mobile experience to customers around the world with its cutting-edge technology and innovative handset design capabilities. Increasingly, LG is perusing convergence technology and mobile computing products. LG will continue to take leadership in the mobile communication environment with stylish designs and smart technology. For more information, please visit www.lg.com.