What happened to WAP

I remember a few years ago that WAP was supposed to be the next big thing.
Since then I haven't really been following any of the HTML,XML... world
because my work led me in a different direction.  Lately I've been doing a
lot more J2EE stuff and am trying to learn about more web based stuff.  My
question is, what happened to WAP/WML.  Why is is obsolete now?