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ZTE chairman Yin Yimin reportedly apologized to the company's staff and customers in a memo on Friday.
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ZTE's chairman apologized to staff and customers in a memo on Friday after the Chinese Telecom giant made a deal to pay $1 billion to the US.
The deal, which was made to have a US ban lifted, requires the company to overhaul its management and allow a US-chosen compliance team to be installed for 10 years.
Chairman Yin Yimin wrote a memo to staff saying ZTE will return to business as soon as possible, and hold accountable those responsible for the violation that led to the ban, a company source told Reuters.
"This issue reflects problems that exist with our firm's compliance culture and at management level," he wrote, according to Reuters' source.
Yin blamed the incident on a few company leaders and employees, noting that the company paid a "disastrous price" for a ban that resulted in "huge losses for the company."
ZTE didn't immediately respond to a request for comment.
The US ban came in May, after the government determined that ZTE violated terms of its 2017 settlement through its failure to fire employees who illegally shipped US equipment to Iran and North Korea.
With the ban in place, ZTE shut down most of its operations until President Donald Trump tweeted that he wanted the Commerce Department to work on getting the ban lifted.
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