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The Atari Lynx is pretty fascinating hardware. It was developed around the same time Nintendo started work on the gameboy and was a 16-bit handheld with a color screen and better battery life than the game gear. Pretty incredible by comparison.

It was basically a little portable Amiga and was developed by two former amiga engeneers at Epyx. They tried hard to pitch it to Nintendo, not knowing that Nintnendo was already working on the gameboy and were probably some of the first people to find out about it.
They then went to Atari for a licensing deal, but got royally screwed over by them in one of those infamous Tramiel deals and that's how Atari got their hands on the machine.