That big company was Philips, which was at one time a rival to GE and RCA. Philips founded ASML and was a big investor in TSMC. Through mismanagement (which is not just an American problem) and not understanding the home electronics business, Philips is now just a company selling medical devices, electric razors, and table top appliances ( like air fryers)
GE is a case study in mismanagement as the senior folks looted the company as the board did nothing to stop it.