FiiO previews the M25 and M25 R2R, one player with two converter architectures
Shown at CanJam London, the two players share a chassis and a platform but split on the DAC: AKM's separated architecture in one, FiiO's second-generation R2R ladder in the other.
FiiO previewed the M25 and M25 R2R at CanJam London on 18 and 19 July 2026. The two players share a Qualcomm Dragonwing QCS6490, 8 GB of memory, 128 GB of storage, a 31-band parametric EQ and a stated maximum output of 1,600 mW, and differ in the converter: the M25 uses AKM's separated architecture with an AK4191 filter feeding two AK4499EX DACs, while the M25 R2R uses the second generation of FiiO's own resistor-ladder design. Japanese show coverage put the tentative global price at about $1,000 before tax, with a summer 2026 release expected.
Selling the same player twice with different converters is close to a controlled experiment, and an unusually useful one: everything downstream of the DAC is held constant, so any difference between them belongs to the conversion stage. That is exactly the comparison the delta-sigma and R2R argument has always lacked, and it is measurable on both sides.
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This is an announcement, not a verdict. Specifications come from the manufacturer and nothing here is measured until a unit reaches the rig. For tested daps, see DAPs reviews. Back to all new releases.