The Walkman doesn’t unfold the MQA file. It just recognises it and plays it as it is. As the walkman was released 7-8 years ago even before the MQA format was released.
Actually, all MQA files are fully unfolded in software, and then they're played internally by the S-Master at 32 bit/352.8/384 kHz (contrary to on-screen indications showing, for example, MQA 96 kHz).
From what I've read, MQA consists in folding and then unfolding of high frequency data, and also playing back the files using a certain reconstruction filter (out of several, depending on the audio when encoding into MQA).
As the unfolding is done in software in this case, and then the audio being played back at the S-Master's highest sample rate, the filtering part should also be done in software, and the S-Master should play the audio as it's coming from the whole MQA software processing part (as the S-Master doesn't have any built-in MQA decoding capabilities).
MQA support for these devices was added in the 2.00 firmware update, in 2017.
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