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^It's not just 110 million consoles yet to sell this gen. The maths are rong.

If there's been 94.75million sold since release of PS3/Wii, that's in 2.4 years, it means the yearly sales are on average ~40 million.

There remains at least 3.5 years of this gen (for the X360 probably one year less). 3.5 x 40 = 140 million.

And dont forget the overlapping sales into next gen (beyond those 3.5 years). That's probably another 20-30 million.

So total sales is something like this:

100 mill sold so far
140 mill sales until next gen starts
20-30 mill overlapping sales in next gen
------------
260-270 mill