Samsung approves sale of printer business to HP

Samsung Electronics Co. said Monday it approved the sale of its printer business unit to U.S. personal-computer maker HP Inc.

Financial terms of the deal were not disclosed, but Samsung said the transaction is part of its "efforts to concentrate on its core business areas."

Under an agreement with HP, Samsung will source printers from HP and continue to market them in Korea under the Samsung brand, the company said in a statement.

Samsung's printer business posted sales of 2 trillion won last year, according to the statement. (Yonhap)