Product innovation is a process through which a new product is conceived,developed,and finally sold in the marketplace,while ambidexterity is recommended as a viable solution for dealing with multi-facet conflicts,paradoxes,and tensions occurred in such process.A framework of product innovation ambidexterity which includes innovation competence development ambidexterity,product development ambidexterity,and new product performance ambidexterity,is established and the hypothetical relationships between these elements as well as the mechanisms of these elements influencing firm performance are further developed.The combination of subjective and objective survey data from top managers and middle-level managers was employed to test the research hypotheses.The results show that innovation competence development ambidexterity is positively associated with product development ambidexterity which is in turn positively linked with product performance ambidexterity.Moreover,product performance ambidexterity contributes significantly to firm performance when measured by subjective and objective measures.Product performance ambidexterity further mediates the link between innovation competence development ambidexterity and firm performance as well as the relationship between product development ambidexterity and firm performance.This study made contributions to organizational ambidexterity theory,dynamic capability theory,absorptive capacity theory,along with implications for managers to manage conflicts,tensions,and paradoxes in product innovation as a process.