根据给定的关键词和上下文，修改一段英文文本以改进其可读性和流畅性。
原始文本： "The company has developed a new product that exceeds our competitors in terms of quality and features. It is expected to launch in the third quarter." 

要改进的关键词： "exceeds"
The company has created a new product with superior quality and features compared to our competitors. Expectations are for it to launch in the third quarter.