It looks new but is actually old. The problem is the diode in the switch. If it flashes erratically, it is obsolete or at the end of its useful life. I live in a new house and the reason for this is not a fall out of the box but a circuit failure in the power strip. This is a known problem with surge protectors from other manufacturers, just lipstick on the sow. Ditch it and find a reputable manufacturer before you catch a fire.
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