LG Electronics, a leading technology manufacturer, has announced a Memorandum of Understanding (MoU) with Schneider Electric to pioneer further innovation in smart technologies.
The agreement was signed during the LEAP technology conference in Riyadh and will result in the two companies collaborating on a strategic partnership. The deal aims to pair Schneider Electric’s advanced technological capabilities with LG Electronics’ expertise as a leader in consumer electronics, home appliances, and smart home solutions.
This will initially see the integration of LG’s advanced Information Display (ID) technology with Schneider Electric’s know-how in energy, infrastructure, and industrial processes, build up automation capabilities, and establish a data center. This combined approach will deliver innovative solutions to meet the growing demand from consumers and businesses for smarter technologies.
The MoU will establish the framework enabling the exploration of new business opportunities while speeding up the development of cutting-edge devices and services. Central to this innovative approach will be enhancing and contributing towards customer experiences and greater sustainable industry advancements.
By working together in this way both LG Electronics and Schneider Electric will help shape the future of smart technologies in Saudi Arabia and beyond. This will be done by improving efficiency, sustainability, and innovation across the industries they serve.
The MoU was signed by Sunny Kim, Managing Director of LG Electronics, and Mohammed Nagy, Distribution Vice President at Schneider Electric during a special ceremony on the sidelines of LEAP.
Sunny Kim, Managing Director of LG Electronics, said: “This partnership represents a significant step forward in delivering integrated solutions that drive value for our customers. By leveraging our strengths LG Electronics and Schneider Electric will be able to innovate new technologies that successfully meet the demand for smarter products in an ever-evolving market.”
Mohammed Nagy, Distribution Vice President at Schneider Electric, added: “Our combined expertise, will not only enhance customer experiences but also contribute to a more sustainable and innovative future for industries across the Kingdom and elsewhere.”
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