So I got this smart light bulb which is exclusive to The Source I think but the exact same bulbs are probably being sold in another packaging since they are pretty generic. Anyway being only 12$ I got a bit curious of how they could be so cheap when Philips' Hue color bulbs are 54$ so I decided to take one apart. (All price are in CAD)

The plastic part at the top was the easiest to remove, a pair of scissor was enough to pierce and cut trough the cheap plastic, revealing all the LEDs and some SM2083EG powering the LEDs.

The photos doesn't really show this but the normal white/yellow colors of the bulb were pretty bright but when switching to color mode the intensity of the light drop so much that it become pretty much useless as a light source.

Removing the top part revealed some pins connected to another PCB inside the base of the bulb and the top of what seems to be an ESP8266?

Breaking deeper into the bulb was harder because the inner casing was metallic but it was nothing a pair of pliers couldn't handle. Under the metal was some soft gray material probably insulating the component and/or helping remove the heat. To be honest I'm not that sure.

After removing some of the gray material slowly as to not damage the PCB, some more electronic parts were exposed. This is definitely an ESP8266 of some kind. 

After a while all the gray material came off, revealing this PCB:

The black and white wire were connected to the base of the bulb sending 120V AC to the board which converted it the 3.3V DC before feeding it to the TYWE3L (an ESP8266 based chip) that controlled the smart functions and the LEDs on the top board.

The TYWE3L module can be found for 1.20$ on Alibaba and the rest of the components look fairly cheap too which is probably why they can afford to sell this smart bulb so cheap.