ZTE's chairman apologized Friday to staff and customers for the company's past behavior after the Chinese telecom giantto the US.
The deal, crafted in order to lift a crippling US ban on the company, requires ZTE 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 Friday saying that ZTE will return to business as soon as possible and will 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 ZTE paid a "disastrous price" for a ban that resulted in "huge losses for the company."
ZTE didn't immediately respond to CNET's request for comment.
The US ban came in May, after the government determined that ZTEthrough 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 untilthat he wanted the Commerce Department to work on getting the ban lifted.