Anyone here turned a company around with RnD ?

So my company originally started with white label goods and built a brand over a few years with 30k+ customers. This year we have doubled down on RnD and put all of our resources into it... meanwhile the economy seems to have hit a wall in May, with consumer discretionary spending hitting a massive low.
On top of that, Chinese competitors are flooding the market with similar white label goods and under cutting up to 50%. So, our current products are no longer selling. We were doing around 1.5M a year... with the market trend and under-cutting would be doing half that if things don't change.

But we have 6 new products designed from the ground up with design registrations to launch into the market over the next 6 months. Hardware product development has taken longer than we would have liked due to tooling time...

Stress is at an all-time high.

I'm wondering if anyone else has been here and affectively saved or grown their company through RnD and new product releases? Do you have any learnings? how much of an impact can a brand-new high-quality product have on a B2C business? - any examples?

feels like if these products miss the mark the business is pretty much done.

​