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