The Nintendo Switch has become Nintendo's best-selling home console of all time.

The latest figures from Nintendo reveal the Switch has now sold 103.54 million units worldwide, surpassing the Wii's lifetime sales of 101.63 million units.

The Switch eclipsed the Wii in just under five years, with console launching on March 3, 2017. Since then, Nintendo has expanded the Switch lineup with the release of the handheld-only Switch Lite and larger Switch OLED model.

As noted in Nintendo's most recent financial report, the company has sold 18.95 million units of Switch hardware during the current fiscal year, which actually represents a year-on-year decrease of 21.4 percent -- although Nintendo attributed that decline, in part, to the massive success of Animal Crossing: New Horizons in FY20.

Overall, the Japanese console maker said all three Switch models continue to maintain "a good sales balance."