LG AND RED BULL RACING JOIN FORCES IN FORMULA 1™
Hockenheim, 23 July 2010 - LG Electronics (LG), a global leader and technology innovator in consumer electronics, has become a Team and Technology Partner to Red Bull Racing in the FIA Formula One World Championship™.
The new multi-season partnership extends LG’s successful ongoing relationship with the series. A Global Partner and a Technology Partner of Formula 1™, LG’s brand presence has significantly increased in a sport with one of the largest regular global TV audiences. While LG will supply Red Bull Racing with its latest products at track and at the team’s headquarters, the close working partnership will offer the electronics’ giant further opportunities to raise brand awareness to a broad consumer audience across the globe.
A championship favourite with five wins so far this season, Red Bull Racing and its drivers, Sebastian Vettel and Mark Webber, achieved unprecedented success in 2009, finishing runner-up in both the Drivers’ (Vettel) and Constructors’ world championships. The team is now third in the Drivers’ (Webber) and second in the Constructors’ world championships for 2010.
“We are delighted to welcome LG as a partner to Red Bull Racing,” said Christian Horner, Red Bull Racing Team Principal. “LG Electronics is an extremely innovative company that aligns well with the creative innovation that is demonstrated within Red Bull Racing. This partnership shows Red Bull’s appeal to like-minded partners and signifies the progress the team has made in the short space of time to attract premium brands like LG.”
Dermot Boden, Chief Marketing Officer for LG Electronics, added: “It is thrilling to see two of the world’s leading innovation brands – LG Electronics and Red Bull Racing – come together as Formula 1 partners. ‘Life’s Good’ is an expression both LG and Red Bull Racing bring to life every day, by using technology to deliver emotional and exciting experiences to the millions of people who watch Formula 1 worldwide.”
Paul Meadows, Head of Brand, LG Electronics UK, commented: “By forming a partnership with Red Bull Racing, LG can better demonstrate its commitment to using technology in delivering amazing experiences to people worldwide, through access to team personnel and drivers. This human focus is central to LG’s brand and is best reflected through a team partnership. This relationship also provides LG with additional business development opportunities and further enhances our at-track and off-track hospitality, media engagement and merchandising activities.”
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About Red Bull Racing
In its short history Red Bull Racing has made a big impact on Formula One. Its initial reputation for grand promotions and lavish parties has given way to it being one of the major forces in the pinnacle of motorsport. The team has always made its mark. Currently represented by drivers Sebastian Vettel and Mark Webber, the Austrian outfit has its factory base in Milton Keynes in the UK. Under the stewardship of Team Principal Christian Horner and Chief Technical Officer Adrian Newey, Red Bull Racing finished runner up in both world titles in 2009 and has so far claimed five wins in the 2010 season. Watch this space.
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 80,000 people working in over 115 operations around the world. With 2009 global sales of 55.5 trillion Korean Won (43.4 billion US Dollars), LG comprises of five business units – Home Entertainment, Mobile Communications, Home Appliance, Air Conditioning and Business Solutions. LG is one of the world’s leading producers 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.
LG Electronics, Inc. Red Bull Racing
Sarah Brambley Katie Tweedle
LG PR Manager UK and Ireland Communications Manager
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