Sentence Correction (SC) | Ambiguity regarding it/its

Questions regarding 'it':


1) Is there an ambiguity?

Despite its poor performance, the company’s new product is still in market.

Ambiguity: Hereits can refer to both company and products. I think this iswrong.

2)Despite its poor performance, the company’s new product is still in marketand it is earning more thanits competitors products.

Ambiguity: Here its an refer to both company and product so I think there is ambiguity so it is wrong.
it on the other hand can refer to only
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