Quote:
Despite its poor performance, the company’s new product is still in market.
Ambiguity: Here its can refer to both company and products. I think this is wrong.
It's is referring to product only. Not the company. So there is no pronoun ambiguity in this sentence. You can remove the possessive noun(company's) in front of the product and you'll clearly see that its is modifying products and not the company.
Here is an ambiguous statement: Despite its poor performance, the company and it's new product
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