"NeXT withdrew from the hardware business in 1993 and the company was renamed NeXT Software Inc; subsequently 300 of the 540 staff employees were laid off. NeXT negotiated to sell the hardware business including the Fremont factory to Canon. Canon later pulled out of the deal. Work on the PowerPC machines was stopped along with all hardware production."
The choice of storage technology always seemed to me to be the reason it didn't take off. Kind of a bummer that it didn't work out (some would say it did, à la Apple).
[1] http://en.wikipedia.org/wiki/NeXT#1993.E2.80.931996:_NeXT_So...