Hue is not a multi-billion industry though, there's no ridiculous growth or profit margins, and it's not (read: no longer) a unique product, with companies like ikea jumping on the same bandwagon.

Philips the company now only operates in the medical market, the lighting division is a spin-off that still uses the Philips brand:

> In 2018, the independent Philips Lighting N.V. was renamed Signify N.V. However, it continues to produce and market Philips-branded products such as Philips Hue color-changing LED light bulbs

Source: https://en.wikipedia.org/wiki/Philips

And they also do electric tooth brushes and air filters (or what the name is), both of which are possibly the best on market.