Two wireless technologies, WiMAX based on IEEE standards and LTE standardized by 3GPP, are two competing technologies, nevertheless, are very technically similar. This competition started with the advent of their pre-4G versions (802.16e for Mobile WiMAX and 3GPP release 8 for LTE) and continued with the advent of their 4G versions (WiMAX 2.0 based on IEEE 802.16 m and LTE-Advanced standardized by Release 10). It looks that the competition ended with the advantage of LTE. Plans are set for WiMAX to migrate/integrate with LTE in a multiple heterogeneous access technology mode. This article addresses the technical similarities and differences that advantage one technology over the other technology in order to determine which of these factors might have contributed to LTE winning. Nontechnical factors of commercial and historical nature which might also advantage one technology over the other one are also explored. Finally, current activities in the standardization of both WiMAX and LTE are presented with a perspective on the prospects of both technologies.