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China's ZTE chairman apologises, pledges reboot after U.S. reprieve - source

Reuters  |  HONG KONG 

HONG KONG (Reuters) - The chairman of China's ZTE Corp apologised to staff and customers on Friday after the technology firm agreed to pay a $1 billion fine to the United States to end a crippling ban that had brought the firm to its knees.China's No. 2 telecoms equipment maker also agreed on Thursday to overhaul its leadership in exchange for the lifting of a ban on buying parts from U.S. suppliers.In a memo sent to staff, Chairman Yin Yimin apologised to clients, shareholders and business partners and said the firm would look to learn from its errors and hold those responsible accountable, ...

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First Published: Fri, June 08 2018. 12:24 IST