There's not much I can say about the Lynx that isn't common knowledge. It's capabilities blew away the Game Boy but it was never a serious challenger. Poor battery life, high-price, and abysmal third-party support were the culprits.
The Lynx was officially canceled in 1993 but the last licensed US release, Super Asteroids and Missile Command, snuck out in 1995. It maintains a small, loyal fan base and limited releases from Songbird Productions.