LG Drops Formula 1 Sponsorship as it Looks to ‘refocusing’ Sponsorship Strategy

LG Electronics (LG), a global leader in consumer electronics, has revealed it will not continue its sponsorship of Formula 1 into 2014 and beyond.

The South Korean brand said they will be ‘refocusing’ their sponsorship startegy towards regional platforms from 2014 onwards. They have been partners of Formula 1 since November 2008 and relinquish the designation of Global Partner and Technology Partner at the end of the season.

During the five years as partners, LG has enjoyed year-on-year growth and has been the most visible brand in the global broadcast of Formula 1 racing for the last three years, with a recorded 229,784 seconds of exposure achieved since 2010.

Also as part of the partnership, LG has enjoyed seeing F1 broadcast in HD; the consumer electronics giant also worked with F1 in Schools, F1 Rocks as well as the Global Fan Survey and the LG Moment of the Year campaign in partnership with F1 Racing.

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