LG Electronics has announced that it has signed an agreement to become both a Global and a Technology Partner of Formula 1 from January 2009.

"Formula One represents the absolute peak of technological innovation and style, which is also our vision for the LG Electronics brand", said Dermot Boden, chief marketing officer of LG Electronics.

"We feel the excitement and electricity of F1 is unmatched by any sport, and we feel the same passion and energy here at LG".

As part of this association LG will get marketing rights as the official Consumer Electronics, Mobile Phone and Data Processor of Formula 1.

LG will have branding on the official live timing service and will get to churn out various F1-branded goodies, so brace yourself for a rash of motor-sport phones from LG incoming in the new year.