Disclosure: I’d like to thank FiiO for providing me with the DM15 R2R for this review. All thoughts and opinions are my own, and FiiO had no say or input on the contents of this review.

If you’re someone who has invested in physical media like CDs, it’s a great time to be alive. There has been a rather profound resurgence in the production of portable CD players, and not only are they packed with modern features and technologies, but they are also becoming more affordable.

The FiiO DM15 R2R is the latest portable CD player that bridges this gap. Like FiiO’s previous CD player, the DM13, the DM15 R2R not only plays standard audio CDs, but it also serves as a USB DAC, a Bluetooth transmitter, and even a CD ripper. Under the hood, the DM15 R2R uses a fully differential R2R DAC (a resistor ladder digital-to-analog converter), a design choice beloved by audiophiles for its warm, natural sound signature. Priced at $269 USD, it shows clear improvements in power and features over its predecessor.

While the previous DM13 utilized the Cirrus Logic CS43198 delta-sigma chipset (known for its efficiency and clean signal), the DM15 R2R pivots toward a more labor-intensive and sonically distinct R2R architecture. The transition represents a deliberate choice to prioritize “musicality” and “analog warmth” over the purely mathematical precision often associated with modern chip-based converters. FiiO has said they listened to feedback regarding the DM13 when designing the DM15 R2R, so this should be a more complete portable CD player. How does it perform, and how does it compare to the previous version? Let’s get into the review and find out.

• FiiO DM15 R2R
• Remote Control (CR2025L coin cell battery not included)
• USB-C to USB-A cable
• Film protector for the glass lid
• 3.5mm to coaxial adapter cable
• 4 extra rubber feet
• Manual

The FiiO DM15 R2R build exudes a premium, modern vibe. FiiO constructed it with an all-aluminum alloy chassis, giving it a solid heft (about 472 grams) without feeling clunky. While it is heavier than the plastic Discmen of the 90s, the weight adds a sense of durability and quality rather than inconvenience. A standout design element is the transparent tempered-glass lid so that you can actually watch your CD spin during playback (a nostalgic touch that many enthusiasts like me love).

The front panel is also covered in glass and houses the 3.5mm SE and 4.4mm balanced headphone outputs, selector switches, a small 0.96-inch HD TFT display, plus a set of physical buttons and a volume knob. The display is bright and high-resolution enough to clearly show track info, playback modes, and settings. Meanwhile, the tactile buttons and volume wheel give satisfying feedback and precise control, elevating the device’s overall build quality.

From left to right:

• 4.4mm balanced headphone output
• 3.5mm SE headphone output
• Magic Bass switch
• Input mode switch
• Output mode switch
• Display screen
• Playback buttons (play/pause, stop, EQ, previous track, next track, power).
• Volume knob/Menu

The back of the player contains all of the inputs, and the remainder of the switches and outputs. From left to right:

• USB-C input (USB DAC, CD ripping)
• Desktop Mode switch
• Charging light indicator
• USB-C power input
• ESP switch
• 3.5mm Line out/Coaxial/Optical combo output
• 4.4mm balanced Line out

Build-wise, the DM15 R2R easily outclasses cheap portable CD players. Nothing creaks or flexes, and it feels like a piece of hi-fi gear built to last. Available in multiple finishes (red, silver, black, and white), its clean, modern look will fit right in with a home audio setup or on a work desk. Even the red finish that mine has, while adding an element of fun to the player, still allows it to retain some seriousness and elegance when put beside other audio gear.

The CD player is top loading, with the tempered glass lid opening from the front and by using the cutouts from the sides. It is held in place with powerful magnets, and they are powerful as it is nearly impossible to open the lid one-handed. This is a good thing as it means the DM15 R2R can indeed be used portably without fear of the lid accidentally opening up. In the CD tray, there is a small cutout on the bottom left to help take CDs out of the player. CDs are held in place via the snap-in spindle, which conveniently allows for CD playback even if the unit is upside down.

One minor criticism of the design that I have is the controls on the front panel. Pressing the buttons can sometimes nudge the lightweight unit backwards on a table (despite the rubber feet on the bottom of the player), and the buttons themselves are just a bit too small for my liking. FiiO does include an infrared remote, which nicely mitigates this issue by letting you control the player without physically pressing the device.

Overall, the DM15 R2R’s design smartly blends vintage elements (like the top-loading CD tray and analog switches) with a sturdy modern build quality that gives confidence in its longevity.

Using the FiiO DM15 R2R purely as a CD player is a joy for anyone who misses the tactile experience of music. Discs click into the spindle securely, and the steel ball mechanism that keeps the CD in place and smooths out insertion and removal of the disc is neither too stiff nor too loose (I never felt like I was going to break the disc trying to remove it). After a disc is placed in the tray, close the lid, and the player comes to life almost silently. The DM15 R2R spins discs in near-complete silence during playback, a big improvement over the DM13, which exhibited some slight squeaking sounds at times. At the same time, there’s a subtle satisfaction in hearing the faint spin-up and seeing the disc rotate under the clear lid, a ritual of physical media that streaming music can’t replicate.

In terms of controls and display, the DM15 R2R makes it easy to play and navigate your CDs. The front display shows track numbers, elapsed time, volume level, playback mode, battery level, etc. The physical buttons let you play/pause, stop, and skip tracks reliably, and you can also use the volume knob to navigate menus or hold the skip buttons to fast-seek through a track. The device responds quickly, and I noticed no sluggishness when jumping between songs. Additionally, the DM15 R2R isn’t limited to Red Book audio CDs, it also supports CD-R data discs containing MP3, WMA, WAV, and FLAC files. In practice, you could burn a data CD with dozens of MP3s or FLAC tracks, and the DM15 R2R will play them, treating the disc almost like a mini music library. The same goes for burned audio discs. This versatility means you’re not stuck with just 74-minute audio CDs, and you can have high-quality digital files on a disc as well, and navigate them via the onboard screen and controls.

I tested a range of Red Book CDs, Enhanced CDs, CDs with many tracks (The Smiths’ “Louder Than Bombs” has 24 tracks), HDCDs, and SACDs. All of them played flawlessly (for SACDs, the DM15 R2R will play the CD layer). Even CDs that I have that are scratched had no issues, save for one that’s in rough shape, but it only skips for a second on one track, otherwise playing perfectly. This mirrors my experience with the DM13 running the latest software update, which makes sense given that the CD mechanism is basically the same here. Essentially, if you have used the DM13 and had no issues with any of your discs, expect the same with the DM15 R2R. If you have discs with playback issues on the DM13, then the DM15 R2R will most likely not resolve them. Again, personally, I have not had any issues with any of the CDs I own that were not caused by scratches (at this point, I’ve listened to at least 75% of my CDs on the DM15 R2R). Here is a link to my Discogs library for reference: https://www.discogs.com/user/DarkEchoes/collection

While I used a wide range of headphones and IEMs with the DM15 R2R, I also connected it to my Fosi Audio ZA3 amplifier using a 3.5mm to RCA cable, utilizing the 3.5mm line out on the back of the DM15 R2R. The ZA3 outputs to a pair of DALI KUPID passive bookshelf speakers, and this was by far the funnest way for me to listen to CDs in a desktop setting. Things like this really highlight the versatility of this CD player, giving you a range of options for listening to your CDs.

In terms of portability, a critical feature for real portability is the Electronic Skip Protection (ESP). The DM15 R2R buffers the audio to prevent music from stuttering if the player is bumped or shaken. FiiO included a dedicated ESP on/off switch, and when ESP is on, the player achieves very stable playback even if you’re walking around or commuting. It should be noted that there is compression involved when turning ESP on, with CDs having a 60-second pre-read and MP3 discs having 120 seconds, so it is not lossless. That being said, I never turned on ESP except for testing its functionality and performance. With ESP off, I was not able to make the DM15 R2R skip during playback, not even once. So while ESP is a nice peace of mind addition, I do not foresee many users actually needing to enable it.

Looking at the menu system, it is intuitively designed and much, much easier to use than what we had on the DM13. When the DM15 R2R is powered on, pressing in and holding the volume knob for about two seconds brings up the menu. Turn the volume knob right or left to navigate through the options and press it once to select. Press and hold it for a second to act as a “back” button. The menu system is very quick, includes all the options you would need, like a screen dimmer selection, USB mode selection, Auto Screen Off, Auto Shutdown (called “APD” in the menu), and a firmware upgrade section.

Overall, the usability of the DM15 R2R while playing CDs is excellent. You get the simple, straightforward operation of a classic CD player with the added functionality of modern engineering.

To power all these features, FiiO equipped the DM15 R2R with a hefty 4700 mAh lithium-ion battery. This provides roughly 7 hours of continuous playback on a full charge, which is enough to get through a typical workday or a long listening session with time to spare. In real terms, that means you can listen through several albums before needing to recharge.

Charging is done via the USB-C “Power In” port on the back, and supports fast charging (PD 2.0/3.0 compliant). With a suitable fast charger, you can top up the battery in around 2 hours, which is relatively quick given the large capacity. If you’re using the player at home or at your desk, there’s a Desktop Mode toggle (labeled “D.MODE”) that lets the DM15 R2R run directly off USB power without taxing the battery. Desktop Mode bypasses the charging circuit, and it does not charge the battery when enabled. This not only preserves the battery’s lifespan (since it’s not constantly being charged and discharged), but also ensures you get maximum output power (the DM15 R2R can deliver slightly higher wattage when on external power, as I’ll discuss later). Overall, the battery life is solid for a device of this class, and about on par with other portable CD players. The quick-charge and desktop mode features make it flexible for both portable and desktop listening.

One of the DM15 R2R’s most versatile modern features is its ability to function as an external USB DAC. In USB DAC mode, you can connect the DM15 R2R to a computer, smartphone, or DAP via USB, and it will serve as an audio output device, leveraging its high-end R2R DAC and headphone amp to play audio. The R2R DAC supports up to 32-bit/384 kHz PCM and DSD256 in UAC 2.0 mode, and up to 16-bit/96kHz PCM in UAC 1.0 mode (this can be toggled in the player’s menu system, and the inclusion of UAC 1.0 means you can use the player as a USB DAC with game consoles).

Using the DM15 R2R as a USB DAC is straightforward. Just plug it into your source device and select it as the audio output, no drivers are needed. The player’s screen and menu will indicate “USB IN”, and you can still adjust volume with the knob or even apply the built-in EQ and bass boost settings if desired. All the outputs are available in this mode: you can listen with headphones or use the line-out ports to feed an external amplifier or powered speakers. The screen also displays the current sample rate. This makes the DM15 R2R a legitimate desktop DAC/amp replacement for many scenarios. For example, at your desk, you could use the DM15 R2R to play music from a music streaming service or local files on your PC. When you’re ready to hit the road, just unplug it and pop in a CD for a mobile listening session. The transition between roles is seamless, and it underlines the DM15 R2R’s value proposition: it’s not just a CD player, but a multi-functional audio hub. Lastly, because the player includes a Bluetooth transmitter, it also acts as a USB Bluetooth DAC/Amp.

Unlike any classic Discman, the FiiO DM15 R2R can go wireless. It features Bluetooth 5.4 transmission courtesy of the Qualcomm QCC3095 chipset, allowing you to pair Bluetooth headphones or speakers and enjoy your CDs (or any audio through the device) cable-free. The player supports a range of Bluetooth audio codecs, including SBC, aptX, aptX HD, aptX Adaptive, and aptX Low Latency. In practical terms, this means it can deliver relatively high-quality audio over Bluetooth, especially with aptX HD or Adaptive compatible headphones, which offer higher bandwidth and better sound than the basic SBC codec, or even AAC. The inclusion of aptX Adaptive is particularly nice as it can adjust bitrate on the fly to maintain a stable connection and low latency, which is great if you’re moving around. And for those using the player to watch videos or game audio on a PC, aptX Low Latency support helps keep audio in sync with visuals (although aptX Adaptive does a pretty decent job of this already).

In real-world use, the DM15 R2R’s Bluetooth performance is overall strong. When paired with most headphones and TWS earbuds, the connection is stable, and the sound quality is excellent. The wireless range is about what you’d expect for Bluetooth 5.4, with roughly 10 meters in open space without dropouts. Volume control is also integrated, so you can use the controls on your headphones or earbuds to control volume and playback, as well as the buttons on the DM15 R2R.

One thing I have started to do in reviews lately is to use my Qudelix 5K to monitor and test the bitrate of aptX codecs, to ensure a device is actually performing as it should be. With the FiiO DM15 R2R, even before doing these tests, I noticed strange behaviour when using the aptX Adaptive codec with various Bluetooth headphones and TWS earbuds. Sometimes the audio stutters and pops, other times it sounds perfect. Powering off the DM15 R2R and then powering it back on usually resolves this.

So, using the Qudelix 5K and the excellent web app for it, I could see both behaviours. When the audio playback sounds normal, the connection hits a maximum of 270 Kbps and hovers around that within 1 or 2 Kbps. When the audio stutters and pops, the bitrate shoots up to around the expected 420 Kbps, but is very erratic, as you can see in the graph. Moving the DM15 R2R about a meter away from the Qudelix 5K makes the bitrate dip to around 275 Kbps. Not sure if this behaviour is just with my unit or not (I haven’t heard back from FiiO yet), but it makes listening using aptX Adaptive a chore.

Thankfully, both aptX and aptX HD perform perfectly. They both hit their maximum bitrates, and I experienced none of the issues that I had with the aptX Adaptive codec. When capturing this data, I was moving the player about 2 meters away from the Qudelix 5K to see if I could observe any issues due to distance, and as the graphs show, there were not any issues (I was also listening with IEMs connected to the 5K to also make sure audio playback was fine).

Issues with aptX Adaptive aside, the Bluetooth performance is generally very good, and the fact that you can still use Bluetooth in the USB DAC mode just adds to the value of this device. And if you are someone who has used the DM13, you’ll be pleased to know the menu system for connecting and managing Bluetooth devices is much improved.

At the heart of the FiiO DM15 R2R’s sound is its unique R2R DAC. Unlike the typical delta-sigma DAC chips found in most devices, the DM15 R2R uses a fully discrete resistor ladder digital-to-analog converter custom-developed by FiiO. This R2R DAC consists of 4 channels (for the balanced architecture) made up of 192 precision resistors (48 per channel), each hand-picked for 0.1% tolerance and low temperature drift. The reason this excites many audiophiles is that R2R DACs are often praised for producing a more “analog” or natural sound, and they can imbue the music with a certain warmth and smoothness that some find more musical. FiiO specifically says they chose this design to “recapture the classic audio character of vintage portable CD players” aiming for a nuanced, organic sound signature.

So how does it actually sound? If you’ve heard one of FiiO’s desktop R2R DACs (like the K11 R2R or K13 R2R), then you’ll know roughly what to expect. Otherwise, I can say that the DM15 R2R lives up to its promise. The sound has a slight warm tilt, meaning the midrange and bass feel rich and full, and the treble is slightly smoother rather than harsh. Importantly, the DM15 R2R doesn’t sacrifice detail, and you can hear all the nuances in your music, while avoiding straying into analytic or sterile territory. In fact, the DM15 R2R’s DAC brings a bit of that “vintage” charm. Instruments like acoustic guitars, cellos, or vocals have a natural body to them, reminiscent of what you might hear from a good vinyl setup, yet with the precision of modern digital equipment.

I spent quite a bit of time with the DM15 R2R (roughly 6 weeks), and in that time, it has handled various genres well. For example, classical and acoustic tracks benefited from a wonderful, natural warmth, reproducing dynamics in a very pleasant manner. Rock and punk tracks are served by a solid bass foundation and a satisfying midrange that accentuates vocals and guitars. Even genres like metal came through with clarity and coherence.

While the DM15 R2R has several built-in EQ profiles, I never felt a desire to use them. Still, they are there if you have the need. As well, there is what FiiO calls “Magic Bass”. There are two modes (1 and 2), and to my ears, they act in a similar way to iFi’s XBass mode. It is essentially a bass boost, but it didn’t overwhelm tracks with excessive bass in the way I thought it would. Option 1 is more subtle, lifting the sub-bass and mid-bass slightly. It sounds very pleasant and satisfying if you want to bring just a bit more excitement and energy to a track. Option 2 increases mid and upper-bass, and while it doesn’t bleed too much into the midrange, it does start to drown out the subtleties there. In the end, Magic Bass is a nice addition for those who do want to add a little bit extra to their music. For purists, they can simply leave the option off.

One of the most impressive aspects of the FiiO DM15 R2R is its output power, and it is leagues beyond what older portable players or even many modern devices offer. The DM15 R2R has two headphone outputs: a standard 3.5mm SE jack and a 4.4 mm balanced jack. Each of these is backed by its own dedicated amplification circuits. In portable (battery) mode, the single-ended output can deliver 220 mW per channel into a 32 ohm load, while the balanced output can do 810mW. When you engage Desktop, those numbers jump up to 315mW for the 3.5mm SE, and 1150mW for the 4.4mm balanced output. For context, 1150mW is an astounding level of power for a portable device. This means the DM15 R2R can drive most full-size audiophile headphones with ease, including high-impedance or lower-sensitivity models that would normally strain a phone or basic DAC/Amp.

Practically speaking, I had no issues with any of the headphones that I own. They also sounded excellent, and there was always more than enough volume overhead. Now, it is worth noting that the output impedance for the 3.5mm SE is about 1 ohm, and 1.5 ohms for the 4.4mm balanced output. This means that the majority of IEMs will sound just fine, especially with the 3.5mm output, but with more sensitive IEMs, you will hear some background hiss. The only IEM I have that had this issue is the Campfire Audio Iris. It was just barely noticeable with my Simgot EA1000, but otherwise, I did not hear or notice any background noise with the majority of the IEMs I used.

The DM15 R2R can function as a standalone CD ripper (just like the DM13). As a disc plays, the DM15 R2R can save the audio data to an attached USB storage device in real time. Ripping is done in lossless WAV format, preserving full CD quality. This means you can digitize your CD collection without needing a computer and specialized software, just plug in a USB drive formatted to FAT32, play the CD, and the DM15 will record each track as a WAV file. It even lets you listen to the music while it’s ripping, so you don’t have to perform a separate, silent extraction process.

There are some practical limitations to keep in mind. Because the DM15 R2R reads the disc in real time, it only rips at 1× speed, so a 60-minute album takes 60 minutes to rip. It’s not the fire-and-forget batch ripping you might get with an external CD drive and a PC, but it’s perfectly fine if you want to back up a disc as you listen to it (all outputs are usable during ripping). Also, the DM15 R2R’s ripping is basic in the sense that it creates raw WAV files and doesn’t add metadata like track names or album art, and it won’t detect or correct for errors with the sophistication of programs like Exact Audio Copy.

For most users, the DM15 R2R’s rips will sound great and serve well as backups or quick shares of favorite albums. If you’re an audiophile concerned with bit-perfect archival, you will still want to use a computer and CD/DVD drive for ripping, but for everyone else, this feature is an extremely handy bonus.

The FiiO DM15 R2R CD player is a rather special piece of kit, in my opinion. It manages to turn the notion of a portable CD player into a serious audio device without losing the charm of its retro roots. In an era when streaming music is the norm, the DM15 R2R makes a very compelling case for physical media in 2026. It gives you the tactile satisfaction of handling CDs and watching them spin, while seamlessly integrating modern conveniences like Bluetooth, 3.5mm and 4.4mm outputs, and USB DAC functionality. For users who have shelves full of CDs (or those who are collecting them again), the DM15 R2R is an excellent option for you to enjoy your music on the go or at home. No streaming subscription or dongle required, just you, your music, and a device that lets you truly own your listening experience.

Are there any downsides? A few, albeit minor. The price is significantly higher than the bargain-bin portable CD players out there, so if someone only wants a throwaway player for occasional use, the DM15 R2R might be overkill. Another slight drawback is the absence of some Bluetooth codecs (namely LDAC) and the aforementioned odd issue with aptX Adaptive, but these are situational and could potentially be improved via firmware. The playback buttons are also on the small side, and while sometimes they are hard to see and press, the remote control essentially fixes that. And lastly, the unit’s weight and size, while solid, mean it’s not as pocket-friendly as a slim vintage Sony Discman, but for most use cases, it’s still plenty portable, and the heft is a trade-off for its superb battery and build.

While the DM15 R2R is not the first CD player to offer an R2R DAC (see the Shanling EC Zero T), it is much, much cheaper than Shanling’s offering ($269 vs $589) while sacrificing almost nothing to achieve that price. So, due to its versatility, excellent performance, and incredible build quality and design, I can highly recommend the FiiO DM15 R2R CD player.

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