LG Electronics and Honeywell Announce Partnership
LG Electronics (LG), a global company in consumer electronics, announces a strategic business partnership with Honeywell, a global manufacturer in automation and control solutions.
The partnership agreement embraces comprehensive cooperation across sales, marketing, training, product development and technology services for building solution systems. Through this collaboration with Honeywell, LG expects to establish an exclusive solution for spec-in sales activities, expand its capability in relevant technologies and improve its engineers' skills through training.
LG began its home solution business in 2004, outfitting approximately 60,000 residences by end of this year in Korea and emerging markets including the Middle East and China. Overall, the building control system industry has grown substantially worldwide, expanding from $90 billion in 2007 to $94 billion in 2008. Energy conservation and environmental awareness have increased demand for integrated control solution including mutual assistance control, power supervision, light control and security. This partnership with Honeywell aims to help LG better respond to the needs of its customers in this area.
The partnership agreement embraces comprehensive cooperation across sales, marketing, training, product development and technology services for building solution systems. Through this collaboration with Honeywell, LG expects to establish an exclusive solution for spec-in sales activities, expand its capability in relevant technologies and improve its engineers' skills through training.
LG began its home solution business in 2004, outfitting approximately 60,000 residences by end of this year in Korea and emerging markets including the Middle East and China. Overall, the building control system industry has grown substantially worldwide, expanding from $90 billion in 2007 to $94 billion in 2008. Energy conservation and environmental awareness have increased demand for integrated control solution including mutual assistance control, power supervision, light control and security. This partnership with Honeywell aims to help LG better respond to the needs of its customers in this area.