Microsoft and LG announced a memorandum of understanding that ties the two companies further together on mobile devices.

The agreement calls for greater collaboration on research and development, marketing, applications and services in the converged mobile devices space.

Microsoft CEO Steve Ballmer said that in the face of increasing competition in the mobile devices space, it made sense for both companies to pursue an aggressive, forward-looking strategy. "At the end of the day, the only way to really move forward is to continue to push new technology, new products and new innovations that have the opportunity to help all of our customers, improve businesses, their lives and reduce cost," he said.

Microsoft also plans to invest $60 million in South Korea over the next three years, in different economic areas, including training and business development. 

For more:
- see this article
- see this article about the investment

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