Why it matters: We knew that it would happen this year, and now Sony has confirmed it: the PlayStation 4 console has officially sold over 100 million units worldwide.

In the company’s latest earnings report, Sony reveals that 3.2 million PS4s were sold between March 31 and June 30. Add that to the 96.8 million total units sold that were reported back in April, and the 100-million milestone has been reached.

Compared to the previous quarter, the number of unit sales is up by 600,000. The figure is identical to the same quarter last year, which also saw 3.2 million sales.

Daniel Ahmad, Senior Analyst at Niko Partners, says that the PS4 is the fastest home console to reach 100 million units sales, which it achieved in the five years and seven months since it launched on November 15, 2013. The PlayStation 2, which remains the best-selling console of all time with over 155 million sales, took five years and nine months to hit 100 million.

Despite the good news, sales of the PlayStation 4 have been slowing in recent times. 17.8 million of the consoles were sold last year. That’s 1.2 million fewer than in 2017, which was also down compared to the 20 million sold in 2016.

With the PlayStation 5 set to launch in the fall of 2020, Sony has lowered future sales expectations for the PlayStation 4. For the fiscal year 2019, which stretches from April 1, 2019 to March 31, 2020, it predicts that 15 million PS4s will sell, 1 million fewer than it had previously estimated.

Other interesting information in the report includes digital downloads having now surpassed physical discs as the preferred method of buying games, with 53 percent of owners purchasing titles digitally.

Sony's smartphone business, meanwhile, is faltering, with less than half the number of handsets being sold compared to the same quarter last year—a total of 900,000. And while its imaging division did well, we keep seeing reports of how smartphones are slowly eroding the digital camera industry.