Bad Product or No Product

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General Problem: Your competitor is doing gangbuster with a new product but your new product is a bomb and you know it. Release the new product even if it is less than perfect or sit back and watch the competitor pick off your market share?
Blackberry: They decided to release the Storm in 2008, called by many the worst Ssmartphone ever, even as they knew it was a garbage product and ultimately had to replace 1 million phones, so says a forthcoming new book, Losing the Signal.
My take: It was a big mistake to release the product. The objective in business is to sell the best product, not the worst. Blackberry, welcome to the Edsel club! Don’t try to cover up. Either produce the best phones or get out of the business. P.S. I use a Blackberry Z 10.
What’s your take?