Atari Jaguar

The Atari Jaguar and the Atari Lynx were the last two Atari system to be developed, not by Atari but by outside contractors; Atari didn't want any direct involvement in hardware production. Martin Brennan and John Mathieson, in 1990, said that not only could they make a console far superior to the Genesis or the SNES but be cost efficient at the same time. Atari immediately agreed and the system was released in 1993 for $250 under a $500 million maunfacturing deal with IBM.

Initially, the system sold well but because of poor games, it would eventually be considered a failure. What would put the final nail on the coffin was the release of the Sony PlayStation and Sega Saturn. In a last ditch effort, Atari would try to play down these two consoles by saying it was the only 64-bit system, a fact that is still debatable to this day. It would be in vain, an Atari would sell out to JT Storage Inc. who would put a stop on all Atari productions.
Specs:

CPU(s): "Tom" (the video processor) - 32/64 bit graphics processor @ 26.59Mhz, 64 bit object processor, 64 bit blitter, 64 bit DRAM controller "Jerry" (the audio processor) - 32 bit DSP @ 26.6Mhz Motorola 68000 @ 13.295Mhz RAM: 2MB Storage: Cartridge - up to 6MB