Nov. 03, 2008 LG Electronics, Microsoft sign MoU on mobile convergence
Microsoft CEO Steve Ballmer and LG CEO Yong Nam sign historic agreement to jointly leverage resources
LG Electronics, a worldwide technology and design leader in mobile communications and Microsoft Corporation, the worldwide leader in software, services and solutions, today announced the signing of Memorandum of Understanding (MoU) to form a strategic collaboration in Mobile Convergence.
Mr. Steve Ballmer, CEO of Microsoft and Mr. Yong Nam, Vice-Chairman and CEO of LG Electronics
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's 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, a 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 meetings.
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