I dropped my brand new abacus onto the train tracks.
I spilt some fermented soy beans on my new jeans and that ruined my mood.
"I heard you bought a new computer." "Well, it’s not brand new. It’s a hand-me-down from Viet."
A new product is something that's brand new or a new item. I like looking around the store for the brand new stuff because it's interesting!
This is a jukugo word, which usually means on'yomi readings from the kanji. If you know the readings of your kanji you'll know how to read this as well. Notice though that ひん changes to ぴん. This is because you're buying some brand new pins?