The cd player is not more a suited hifi reproducer today.

The quality it's give you related the price is very low.

The new format you have to use is an usb device theat means:
hard disk
memory
telephone connection

Using a Teac Wap5000 costing 250$ you can:

reproduce internet radio also at 320kb/s
record it on HD
reproduce with media player selection by its graphic terminal of what you have ob hd/memory usb or connected wireless by your pc.

The quality of mp3 using its internal DAC is at level of cd player costing 500 $.

If you connect an external quality DAC, ie I use Harmony Design Dac costing 700 euro,you get with mp3 at 320 kb/s the quality of best cd player costing 2000-3000$

Test it before refuse it.

With wav files the quality is obviously better .

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