Chinese telecommunications firm ZTE Corp. has been slapped with an $892 million fine after it admitted violating U.S. laws that restrict the sale of American-made technology to Iran.

The U.S. Justice Department said ZTE illegally shipped more than $32 million worth of hardware that incorporated prohibited components to Iran between 2010 and 2016, and lied to investigators about having stopped dealing with the country.

In addition to the unprecedented fine, officials said ZTE had also been slapped with a suspended $300 million penalty, which will be imposed if the company breaks any more laws. In addition, ZTE has agreed to permit ongoing routine monitoring and auditing of its activities. The company also remains on a list of firms that U.S. suppliers are prohibited from doing business with without government approval. ZTE was first placed on that list last March, but Reuters said it would be removed if it cooperates fully with U.S. authorities.

“With this action, we are putting the world on notice: Improper trade games are over with,” U.S. Secretary of Commerce Wilbur Ross said in a statement. “Those who flout our economic sanctions, export control laws, and any other trade regimes, will not go unpunished.”

Shenzhen-based ZTE, which is the fourth-largest phone maker in the U.S. after Apple Inc., Samsung Electronics Co. Ltd., and LG Electronics Inc., agreed to the settlement following negotiations with the U.S. Department of Commerce, Justice and Treasury. The settlement also sees ZTE plead guilty to conspiracy to unlawfully export, obstruction of justice and making false statements to federal investigators. The settlement marks the conclusion of a five-year legal battle.

Sale of the parts to Iran had been banned under the International Emergency Economic Powers Act. The company was also accused of supplying banned components from the U.S. to North Korea in a separate incident. In January, ZTE said it was laying off around 3,000 employees in a move that was thought to have been a response to a ban on exports to the company by U.S. firms.

“ZTE acknowledges the mistakes it made, takes responsibility for them and remains committed to positive change in the company,” said ZTE Chairman and Chief Executive Zhao Xianming. “We have learned many lessons from this experience and will continue on our path of becoming a model for export compliance and management excellence.”

In order to avoid making mistakes again, ZTE’s new chief export compliance officer Matt Bell said the company will build a “global team” of compliance experts, restructure its legal department and institute new automated tools, policies and training to ensure it remains current with international trade regulations.

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