naim收集贴 [复制链接]

CT: But did JV’s family have a shareholding?

PS: They had no shareholding. Only the Trust, the Julian Vereker Trust, which is for the benefit of the beneficiaries and still exists today. We got on really very well, and I started to invest more and more money into the people, the infrastructure and the processes, lifting the qualities of the whole business, and we really started to grow a lot. In one of these particular meetings we reviewed our concerns about what would happen to CD in the future. We had 30% of our business in CD players, and I couldn’t afford to take the risk that we didn’t think about going forward and replacing our CD sales with something else, so we started to work on looking at hard-disk storage and server technology. We really had no interest then in controlling or writing a database because we were still predominantly digital and analog hardware engineers, not particularly software at that time, although we’d had some bad scrapes in some areas with software, but that’s another story.

So we made a server, the first one. This was probably eight or nine years ago now, and this gave us a view about how big a challenge it was going to be. I mean, we thought CD players were a challenging environment! But putting a hard disk, heavy power supplies, high-frequency busses with RAM and ripping engines in there and you’re trying to keep a signal as pure as possible? It was a bloody big challenge, but we had to learn that trick. I was never going to say it was better than CD, and I certainly wasn’t going to say it was better than analog, as I didn’t think that even CD had hit that mark, but there was always a glimmer and a possibility. We knew that this route could lead to something beyond CD because of its limitation of 16 bits/44.1, which was always a little bit of a noose around its neck. I’m not convinced still today that 192 or 724 are the Holy Grail, but I do believe there’s a possibility. I do believe there’s a game again and that’s worth fighting for.

We made a server and then I met Alan Ainsley who told me about this distributed audio product from America called Stream Net, and at that time the biggest growth market sector on the planet was CI [custom installation] and all the stats were saying hi-fi sales were going down and custom install was going up. There wasn’t much point really in Naim getting involved in the custom-install industry, because a lot of people were doing very well already, but they were running long cables everywhere, which is something we didn’t believe in as it resulted in noise and signal loss. We didn’t see it as true quality. It was about oral wallpaper and it wasn’t very exciting. So the Stream Net offered us an opportunity to build IP-enabled electronics that could distribute uncompressed audio at high quality, with almost no latency, throughout the home. So I thought, Geronimo! This is really great news. And then that became more interesting -– it started to build on our picture of the server, IP audio, networks, etc.

You know, people talk about RCA phono plugs as being an international standard, but I remember somebody telling me that the only true standard worldwide is TCP/IP. You can put a computer on in Doncaster and you can do the same thing in Vietnam or Shanghai and you’ll get the Internet. It truly is international, and Stream Net works on TCP/IP, so I thought, What a good idea we have here. It’s international and it works. But obviously, at that time I didn’t know that the housing world was going to crash, but that really didn’t matter because we were really getting a scent at Naim at that point that through iPods people were starting to store more music on computers.

We were building up this competence level with networking audio and at the same time we got a knock on the door from Bentley: "Are you interested in making a premium in-car system?" Well, my R&D guys had finished making DVD players, and it was, "Do you want the keys for a Bentley or should we make another DVD player?" The DVD players were history -- you know what I mean? They set us very big challenges at Bentley. We had to make the world’s most powerful car production amplifier, it had to be this size and it had be quieter inside than outside and it needed lots of digital signal processing and all of that kind of stuff, so we started to work with other people on the digital signal processing -- in fact we recruited Hjalmar Nilsson from Sweden into our team and suddenly we added another competence to our experience and abilities with digital signal processing. Later this would make us see what we could do with loudspeakers, room correction and lots of other things.

So our armory was just getting stronger and stronger. Networking audio, the DSP speakers and everything else -- so the level of excitement was growing. I started to recruit more and more people in our software team -- really great people. One day we were talking about an integrated solution, because on the backside of this some of the marketplace was getting a little concerned about the number of boxes there were in the system. One of the guys had a particular interest in UPnP -- universal plug and play -- and he engineered an all-in-one system for us. He was head of software at Naim, so the Uniti was born, and bingo!

So in the past three or four years we’ve taken our turnover to just over £16 million. It cost a fortune to get there, but it transformed our retailers position with streaming, it transformed our market position and the competence level that we had, and what’s more, even though we haven’t arrived in terms of audio nirvana, the sound has given us a challenge for the future to make this as good as possible.

CT: So you are looking to offer complete solutions?

PS: One of the backbones of Naim from day one was always giving someone a solution that could have some predictability to the sound quality. So that became a strong feature, to have a Uniti product which was kind of future proof for a lot of people getting into network audio. Also, we had to add a traditional CD and an Internet radio. It was just too good to miss really. This has lead to a whole generation of Uniti family products and servers, and we are stretching this going forward with NDX, which is a network client. It has no amplification in it and is aimed at a higher-end market. Over the next year you will see us add to this client range, and we’ll probably end up with a series of clients which are at the same sound-quality level where CD players are today. These will also have servers, as this part of it, for me, is important. It’s all right to say rip it to your NAS and use EAC or dBpoweramp, but there are a lot of things that can ruin the rip. The quality of the transport, the environment it’s being ripped into. So Naim right now is controlling the ripping, storage and playback and that’s important to us if we go back to the "source first" in terms of where we first started, which was coming from and promoting turntables as being the best. Getting the best stored file at the highest resolution has to be the Holy Grail for storing new music for the future. So I think the industry now finds itself in a really fascinating place where hi-fi could become fashionable again. Apple have done such a fantastic job educating the world with wonderful products, so the man on the street knows how to use his telephone to download a song, how to replay it in his home and store it. Kids certainly do. And being in the right place at the right time, which is where I think Naim and some other companies are, is great because the competition has disappeared, especially if you’ve got the right set of products that people will want to buy and that relate to their lifestyles. I think Naim is in the position where the sky’s the limit. It is only limited by our own resources.

CT: Okay, that brings us up to now. So let’s talk about the Focal thing and how that started.

PS: We interact with a number of companies anyway, whether we are sharing parts or intelligence, sometimes even design, and I was aware of Focal for many years through their drive-unit capability. They have a great reputation and they also have a [speaker] cabinet manufacturing plant that I believe you have visited. What has happened is that there are very few people left in Europe who make cabinets, and we were certainly interested in trying to keep all of our cabinets sourced within Europe, so we met them a couple of years ago when Naim’s R&D people went to look at their technology to see if they could make a cabinet for us. That was really the start of the introduction between the two brands.

Nothing much happened relationship-wise then, but Naim was beginning to grow, and I had to ask myself that, at age 57, what do I need to put in place for the next generation of Naim products and how can we as a company deal with that? On the other side is the JV Trust, who is the major shareholder with 58% of the business, and the Trust, by and large, is a static entity that is not reinvesting in the business. So, usually you have a company whose owner is reinvesting, but in our case it wasn’t. And I definitely realized that the next stage of Naim’s growth must come the same way as it had before, from reinvestment. But the numbers had become so much bigger that it had become difficult to invest from your own petty cash, because now that is squeezed as we are 130 people. So a lot of your money is tied up with just running the business and paying the staff, including an ever-growing R&D department, which is very expensive, as well as marketing and everything else.

So we needed more cash. We could go to the bank or a venture capitalist or we could do a small flotation. There were a few options, and on the other side is the Trust, who, quite rightly, have some concerns about having all their eggs in one basket. And where would be their exit route to allow them to sell some shares for us to get new investment? Putting two and two together, I could see that there was an issue there. We had many meetings where I refused to talk about succession or a sale because I knew that what we really needed was a lot of cash. I had many calls and letters from people who wanted to talk about us selling Naim, but we didn’t take any of them seriously. We just didn’t go there. Then one day last year I got a letter from an intermediary who was working with Focal, who said they would be interested in talking to us about some collaboration or investment.

CT: So, you are saying that, as a company, Naim had reached a tipping point?

PS: Certainly a position where serious decisions had to be made. One point that I would emphasize is the increased rate of change and the speed of technology. We make streaming products, and if you haven’t got your app out the same day, people think you’re insane. Everything has to be now, and we are in the business of meeting our customer’s expectations about the technology -- the way it’s presented, the way it’s controlled and the way it’s supported.

CT: So, what do we call the tie-up with Focal?

PS: Well, it was a sale but with a strong merger element. But let me tell you about the meetings. Jacques Mahul, who is the founder of Focal/JMlab came personally to Salisbury and told me the story about how he had started his company and there were a lot of similarities between him and what Julian had done, and we spoke for a few hours about the possibilities. Was Naim looking to sell? Was the trust looking to sell? How could companies work together to consolidate? It was certainly interesting, but in truth it wasn’t a greatly productive meeting. You would have to ask Jacques what he thought about it, but it didn’t really go very far. It seemed to be about consolidation and things that I didn’t have too much interest in. It was just pure commercialism.

So I said to them that if we were going to talk, it had to be about raising the bar in creativity and reinvestment and those sorts of things. After that we didn’t talk for a while until Jacques called and asked the Naim directors over to Focal, and as soon as we got in the factory and Jacques took us around the plant and showed us, step by step, how they make things and how fastidious they are about quality, I was bowled over. It was just so impressive.

CT: And was the personal chemistry good by this time?

PS: It was fantastic. It was like hand and glove because they knew everything that we had been through over the past 30 years. They have been through it too. They really understood how tough it is to be a manufacturer, especially in this world of today. We had so much in common. We were so fascinated with what they had achieved that we began to talk about the possibility of combining resources, because we realized that if we could find the investment then, between the two of us, we could have a real push forward into the next generation of products for both of our companies. Look at Bowers & Wilkins -- £120 million; look at Sonos -- £300 million plus. There are other big players out there. Between us, we would be around £40 million, but it just shows how big the market size is if you get it right. Once you are at the size of Naim and Focal, there’s no going back really. You can’t say, "Okay, I will let half the staff go and we’ll just build the 250." I suppose you could, but that wasn’t the route we wanted to take. And that is certainly not Jacques’ idea either. At this point, Jacques had been planning to go into retirement, but after this deal, although he won’t be involved day-to-day, he is certainly back on the bus. He is so excited about this deal.

CT: A shared vision?

PS: Yes. I have been working with him and Christophe, the new president, and over the next year we will be looking at where these investments will be placed for the development of both brands to have a shot at the bigger basket where there is less competition, and if we get the right products we could be extremely successful and extremely profitable.

CT: What form will these new products take?

PS: Naim are really focused on getting the very best sound we can, as of course every manufacturer says, but we will definitely invest and develop the next generation of network products as well as two channel -- and in fact the whole chain.

CT: Will they be Naim products?

PS: They will only be Naim products. You will never see a Naim/Focal badge on a product together.

CT: What is in this for Focal?

PS: If we have an R&D team, we are not working in isolation. It’s good to have a load of friends and colleagues who can feed off each other and inspire each other in terms of thinking about a marketplace. So, straight away, there’s a cross fertilization of ideas and inspiration that’s there. They gain a very, very strong electronics partner, so with any of their needs for electronics, for instance, we can help them with guidance, supervision and all that kind of thing. If they are going to be involved in networked audio products -- you’ve already seen things like The Bird and some of their streaming products -- then they have a vision of how acoustics will evolve in the next generation of streamers and we have our vision of how electronics will develop, so, for example, there will be big possibilities to share a platform.

CT: So, what’s in it for    Naim?
    PS: The enormous freedom we get    from releasing this shareholding from a static trust to have millions of pounds pumped    into my R&D team to develop these particular products. Focal will end up owning Focal    and Naim. That’s the big picture and together it will be a hugely profitable    business. So the market will allow these two companies to grow and end up making a hell of    a lot of money and jobs for people. It is all about growth and development. The technology    crossovers are with R&D in terms of the next generation of electronics and streaming.
    CT: Will you still design and    build your own loudspeakers?
    PS: Yes, we already are. The    S800 has arrived and we have plans for an S200. We aren’t going to rebadge a Utopia.
    CT: Will you have access to the    Focal parts bin?
    PS: I would think that    absolutely we would have access to that.
    CT: To the Beryllium tweeter?
    PS: I am not sure whether it    would be appropriate for our design. Our speaker systems are designed using our solutions,    and everything we are doing right now is around the BMR technology in the Ovator range. If    we wanted to kick the BMR out and put the Beryllium in, we could, but it’s not really    about that. We’ve already conceived this idea and we believe there is a lot more    sound quality to come. The story isn’t finished with the BMR and the Ovator range. We    could ask them to look at cabinets perhaps. That could be interesting. They can make 3000    drive units a day. Could they make us a bass unit? Of course they could. Will they? I    don’t know.
    CT: So what immediate    differences, if any, are we going to see at Naim?
    PS: No one, retailers or    customers, will see any difference at all other than a step up in confidence from Naim as    we build for our future, because we are recruiting.
    CT: And your customer base,    which must be just about the most devoted and loyal. Will they still recognize the company    in the future?
    PS: Absolutely they will. Roy    George is still very active with design and he is the keeper of the voice of Naim. But we    are both really in caretaker roles. We add experience and move the brand forward.    Everything changes. As you can see from the forums, in some cases the jury is still out,    but from an end-users point of view, I don’t think you will see anything other than a    brand that grows stronger and makes great products.
    CT: Let’s look ahead, say,    three years then. What will be the picture then?
    PS: If everything goes okay,    then we will see Naim get stronger and stronger and have products that are even more    desirable than they are today under the Naim badge. There are no plans by Focal, who have    invested this money, to try and destroy something that has been built up over 30 years.    They understand the value of the brand.
    CT: It has been suggested that    this is really just a takeover, but what you are saying to me is that this is technically    correct, but one that leaves you with huge autonomy.
    PS: Okay. Let’s sort this.    The truth is that Focal & Co bought 100% of Naim shares. And the way this deal has    been managed is that, as part of them acquiring those shares, almost half of all the Naim    shares that they acquired were turned into Focal shares, so myself, the Trust, etc.,    anybody who was a shareholder of Naim, becomes a shareholder of Focal & Co. So I am    now a director of Focal and I sit on their board, but I am also personally a shareholder    of Focal & Co. that owns Focal/JMlab and Naim. But you asked what’s in it for    them? Well, some of Naim’s strength comes from the success that we have had in Europe    particularly, and we’ve got a good understanding of how that has happened. Part of my    job, sitting on the Focal board, is to pass on some of the experience of our success into    how we can help to influence the Focal brand to get stronger and have more market share.
    CT: Do they have an interest in    your in-car technology that you acquired through your successful experience with Bentley?    I know they make automotive audio products themselves.
    PS: Focal are extremely    successful in aftermarket, and we are not in aftermarket at all. Our design has been made    specifically for Bentley and all of the digital signal processing was made for that car,    so we can’t add to what they already do.
    CT: Will Naim continue with    Bentley?
    PS: Yes, we have a contract    with them and we are just finishing working on their new cars. We’ll see what they    think about our relationship with Focal. But we are still a British brand and we are still    British registered. That is important. Bentley is a strong company with strong vision, so    they will understand this move.
    CT: So let’s just talk a    little about the future of audio from your point of view. Is CD dead now?
    PS: I    don’t think so. I really don’t. There are still things to learn about CD replay    and making a good CD player. Is it difficult to get hold of some of the parts now? Yes, it    is, but if you look at the emerging markets like China for example, well, there are a lot    of CD players to be sold there. They are well behind the curve in terms of downloads and    although a lot of people have abandoned making CD players, I think we will see a lot more    come back.
    CT: Is streaming absolutely the    future?
    PS: I think it is absolutely    the future and that people will download music, store it in a particular way and there is    certainly the possibility of moving sound quality beyond where CD is now. The music    industry is in really good shape, apart from CD sales. More people are going to concerts    and there is more music being played in the home. Once you’ve got your music on an    iPhone or a computer, doesn’t it make sense to get a better amplifier or pair of    speakers? Storage is getting cheaper and cheaper, bandwidth is getting faster and faster,    control is now easier, so there are so many elements going in our favor that the people    who want a higher-quality experience will seek it out. Look, I don’t believe that    streaming is totally at the peak of sound quality today, but I think it has a future    beyond CD that is really worth fighting for. We’re not there yet. But it is the    challenge of having somewhere better to go that is exciting.
    CT: So, we met over 30 years    ago. It was a couple of weeks before you joined Naim, as I remember. Overall it has all    worked out okay then?
    PS: [laughs] Yes, it has and    the best thing is that today I really believe the audio industry has a great future, and    because communications are better and the business is so much more organized we are in a    much better position to take advantage because we are ready. I understand about the    process, I understand about the teams, I understand about the marketplace. We have very    well-defined distribution channels and the technology and communication paths to have an    effect worldwide. We can grow the business a lot and it wasn’t like that 30 years    ago.
    CT: I speak to people a lot    about streaming and there are as many opinions as I have ever heard about anything audio.    I have heard some mildly impressive results but never anything that, as a customer, would    make me want to make a large investment. I am quality driven and at this moment anyway I    would rather just put another CD on and enjoy that. As an audio writer I certainly need to    understand it, but as a music lover I am, as yet, unconvinced.
    PS: I know what you are saying.    I talk to retailers and say to them that, if they haven’t got streaming equipment in    the shop, and their customers have, then they’re getting behind the curve. I tell    them it’s your job to show them what you know, to help them set it up, to let them    get the best sound. You don’t need to sell it on the basis that this is better than    anything else, because they will catch you out if it’s crap.
    CT: So, then I should embrace    it?
    PS: Look, Chris. The lifeblood    to any true audiophile should be the music, and I know that is your heartbeat. For a lot    of audiophiles it’s not. It’s the kit. But access to music is a bit like feeding    your habit. If you’re not finding and listening to new music, then why have the kit?
    CT: I am with you 100%. The    real reason I have such a long history in audio is that I love listening to new music. I    need a constant stream of the stuff. I am a bit like a junkie, I suppose. Most of what I    hear doesn’t grab me. But I suppose it’s the promise that keeps me hooked.
    PS: Absolutely. And a lot of    this new music is going to be in the digital domain for download. This is why I love    Internet radio. Without that I would be listening to Radio 1, Radio 2 and the rest. Our    local radio station is terrible for new music. There’s a record shop in Salisbury    that is awful. Where do I hear new music? Because I am older and I’m not mixing with    a younger circle of friends I don’t get such constant recommendations. So, with my    Internet radio, I get access to world music and I can buy it at the push of a button. I    listen to Radio Paradise at 320k, where you probably listen to it on your iPhone at 128k.    Have a listen to this.
    

  

paul then played me some    high-quality Internet Radio through a Naim HDX. This is an imminent software release from    Naim that adds Internet Radio to the HDX HD player/server, and the updated app will    automatically allow complete control. I have to say that listening through Paul’s    system to such high-resolution music from radio was impressive, and I can’t wait to    install it on my home HDX. Paul compared 128k, 192k and 320k, though he was quick to point    out that he still didn’t feel it was as good as FM can be, providing you have an    expensive aerial installed on your roof.
    With the interview over we sat back to    listen to some music after all the talking. Paul played me some of his current favorites    and a number of very high-quality downloads from numerous memory sticks. This was a great    way to end what had been a long day. Sitting there, with the music flowing, gazing out    over an English country garden, seemed the perfect answer to all the questions I had been    asking. It is early, but I have the feeling that the Focal deal will work out very well. I    know that Paul is very comfortable with the situation. Julian Vereker had real foresight    when he offered him the job over 30 years ago.

看不懂

来自英国的音响品牌Naim向来低调，即使在大陆音响市场最疯狂的时候，它也没有如它的其它“同宗”音响品牌一样在中国大陆音响市场大力开疆拓土，而是依靠代理商稳健地开发市场。表面上看，它失去了一次急速扩张品牌、赢取快钱的机会，但也许正是这种稳健的商业操作手法，当现在音响市场全面趋淡之际，凭借其产品的品质及声音特点，Naim却慢慢地在市场上凸现出它的优势了，颇有点“酒香不怕巷子深”的味道。
    介绍Naim的资料很少，尤其是中文资料，这对人们认识Naim这个品牌多少有些不利。实质上Naim在英国音响品牌之中，是定位于中高端市场的，它与Linn（莲）有许多相似的地方，产品上彼此也有竞争。Linn的市场操作很前卫，产品的设计也倾向于前卫时尚，声音的品质也很有口碑。Naim同样也是一个在声音品质及产品品质上均有极好声誉的品牌，但市场的操作很低调，显得有点缺乏“进取心”。产品设计很传统，将Naim的产品汇总起来看，你会发现许多产品的外形几乎都一样，色彩上也没有什么变化。Naim的设计观念很实在，他们认为音响产品是用于听音乐的，它不是时尚用品，与其将许多金钱用在外观造型上及无用的功能上，倒不如将这些资源和精力都放在实质性地改善重播音效上。以Naim的CD唱机为例，五款定位不同的CD唱机，CDS3、CDX2、CD5、CD5i、CD5X，彼此间，CDS3、CDX2的外形的基本轮廓相似，只是面板上有些变化，但传动机构相同。CD5、CD5i、CD5X有着相同的机壳，内里的传动机构也一样，至于其内里的数字电路板等，彼此间也有雷同之处。将产品延伸开去，放大器、AV放大器，要找类似的相同点就更多了。至于说到Naim CD机、放大器、调谐器产品的色彩，那是清一色的黑，连表面处理工艺也一致。这就是Naim的设计观念：不追求外在的变化与时尚，心思都用在声音的还原上。

    外观
    正如前所说，Naim CD5X CD唱机的外观实在没有什么特别的，面板是一个三区域设计，左边是CD播放盘，中间是一个Naim的标志，右边是操作、显示区，操作键只有四个：播放、停止，前、后选曲，连常见的图形标识也没有。显示屏只可以显示四种状态，即HDCD、time、repeat、prog，可以满足基本的使用。这里值得一提的是CD5X的CD播放盘用的是手拉式抽屉，将转盘及读取装置一体化的结构，要播放CD时，捏住播放盘面板上的钮轻轻拉出，将CD唱片放入盘内，将随机附的一个磁力压块放在CD之上（增加CD旋转时的稳定性），然后轻轻将这个抽屉式的播放盘推入机器中，听到“啪”的一声，此时就可以播放CD唱片了。用户对这种操作方法有褒有贬，贬是嫌其麻烦，褒则说其很有味道，有玩LP的感觉。
背板的端子很少，但很特别。CD5X的后背板上，只有一个联动控制的端子、一组RCA输出、一个DIN端子输出及一个供电源升级的端子，而光纤、同轴数字输出端口一概欠奉，也就是此机只提供模拟输出，没有数字连接口。不提供数字端口是Naim CD唱机的一贯做法。现在这样还算好的呢，总算提供了RCA输出端口，早年它家的CD唱机可是只有DIN端子输出的。这可能与Naim喜欢自成系统有关，因它的产品涵盖音响的方方面面，从CD唱机调谐器、放大器、音箱一应俱全，且都是成系统设计，所以发烧圈也有这样的共识，就是听Naim要听一套，否则很难听出Naim的音乐味。Naim很负责任地将CD5X的DIN端子的各脚与信号的连接以图的形式放在此端子的上方，有助于使用者了解。电源升级口也是CD唱机的一个特别设计，厂家有特别设计的一个电源可以与此CD唱机连接，不过价格不菲，约是CD 唱机2/3的价钱。由于价格昂贵，所以没能一齐拿下，所以也就错过了试听的机会，不过据代理商介绍，用了此电源，声音的改善很明显。

    内部布局
    要打开CD5X的机盖有些小技巧，必须先用附机配的螺丝将唱盘锁紧，再将机箱底部的几个暴露在外的螺丝旋开，这时还是打不开的，记住在靠前面板的下方有一个用塑胶盖住的小孔，将此塑胶盖挑开，旋动螺丝才可以将机箱打开。
    CD5X的内部工艺及处理很漂亮，也有许多与我们传统的设计思维不一样的地方，例如这机器的内部就没有任何屏蔽措施；长距离的引线采用的是硬质导线架空连接，且数量不少，这让人联想到胆机的搭棚焊接。看来Naim的设计是另有一套，如能深入地解剖Naim的产品结构，也许对我们的音响设计师会有所启示。
    英制音响所用电源变压器小是公认的，至于CD唱机用的就更小，但CD5X却出人意料地用了一个超大的电源变压器，其体积大小若出现在英制放大器上，是75W×2的这样的规格的机器上才会用到。此环牛用黑色的纺织品包裹，显得很有档次。从变压器引出的两组输出及一组输入及控制用的导线采用不同的颜色及规格加以区分，电源高压端的绝缘保护做得非常好，让人有绝对的安全感，也让人对Naim的认真，严谨的制作肃然起敬。机内电源变压器、转盘约占3/5的位置，线路板分两块，一块是电源与数字电路，另一块是模拟输出及升级电源接口部分，两者加在一起约占2/5的容积，显示电路板直接安装于前面板后面。
    CD5X的电路设计很有特点，从线路板的布局看，电源及数字电路处于同一块电路上，D/A转换用的是BB公司的PCM1704，数字滤波用的是Pacific Microsonics的PMD200 HDCD芯片，这两片IC属常规设计，唯一不同的是一块Naim自己“写”的IC，相信是用于Naim机的互联控制用。让人大惑不解的是电源变压器只有两组输出，但却用了19个三端可调集成稳压器LM317。LM317的用途无非是做稳压及恒流源，从中可以看出电源的稳定在Naim的设计师心目中是何等的重要。两组电源都用了一个巨大的整流桥做整流，这本是小功率的整流二极管就可胜任的工作，CD5X这么设计，想必有其道理。电源滤波电解电容器只有三个，一个10000μF，另两个分别为4700μF，品牌为BHC，产于英国。此部分电路大多数都采用表面封装元件，工艺处理相当到位。
    模拟放大及输出电路采用了许多分立元件搭建，模拟放大IC用的是BB公司的OPA604AP（共四只），电源供电显然是由电源及数字电路板提供，不过此电路上仍然用了4个LM317集成稳压器。所用的电阻、晶体管及电容比较考究，尤其是电容，不同的工作场合，使用不同介质的电容，看来从声音考虑居多。不过同样令人迷惑的是，电源升级从电路结构上看主要是针对模拟放大、输出电路这一级的。用于升级的另购的专用电源万余元的售价，就为了这，值吗？为什么不在设计此CD 机时一并考虑？声音的改善与投入成正比吗？的确让人疑惑，但Naim的设计师这么做，也许有他们的道理，看来有机会一定要试这个让人疑惑的升级电源。

    指标重要吗
    指标很重要，但不是绝对的。说很重要是针对产品而言，那是一个标准；说不是绝对那是指标与声音之间似乎也不是绝对的对应的关系。另外，同为指标，还要看是何种条件下测得的，这反而更重要。CD5X的技术参数并没有很令人惊喜的地方，而且很特别的是CDX3、CDX2、CD5i、CD5X给出的都是相同的技术参数：如频率响应：2Hz-20kHz+0.1dB-0.5dB，失真：<0.1%（10Hz-18kHz满电平），这是厂家最常标注的技术参数，对于频率响应参数及失真，±3dB测得的频响与10kHz下测得的失真与上述的技术参数那是有很大的不同，这是需要加以注意的。不过Naim厂方在CD机技术参数中罗列的其它几个数据及说明倒是很特别，如相位响应、去加重等，这是绝大多数厂家都忽略的数据。Naim的音响产品的声音有被公认的好声，从它给出的参数来看是保守、朴实、可信的，是传统CD唱机的路子，但是它的一些在别人看来无关紧要的数据与说明，却是很详尽具体，说明它是有实力的，好声是有基础的，这也是令我仰服的地方。

    操控
    CD5X的操控不复杂，面板上的功能键只能应付简单的操作，随机所附的遥控器大小适中，操作起来也还算顺手，不过其键钮的排列实在不敢恭维。这款遥控器显然不是CD唱机专属，是Naim的CD唱机、调谐器、放大器通用的。本来这没有问题，只需按区规划好即可，但显然这款控器没有按我们常用的思维去设计，或者说设计者与我们的考虑不同，所以键钮的排列有点乱，加上只有英文标识，极少图标，使用者需要有一个适应过程，所以CD5X的遥控器设计上应该扣分。遥控器可以完成CD机的所有操作，读取的时间很快，加之有字型够大的显示屏的帮助，使用起来还算顺手。

    声音评价
    CD5X显然是为听音乐的人士而设计，它也许不是以追求音场及细节为目的的发烧友之首选，但是在认真听、听久了CD5X之后，你对音场及细节的过分追求会有所动摇。玩音响的目的应该是听音乐，能使人感动的器材才是最值得尊敬的。CD5X就是属于能感动人的音响器材，它的声音、韵律感很好，节奏起伏流畅，声音有厚度且有真实感，而且这又是在不丧失重要细节的前提下给出的。它的低频也显示出相当的质量，有厚度且松软自然，这是十分难得的。至于谈到全频段的平衡性，我想在常规的频段内，十数Hz到20kHz之内，Naim有它的优势，而且在中频段这一块，Naim处理得特别棒，也许是他们深深明了：人们可以听到的大部分声响的频率都在于此，所以研究的重点也在于此，这也是Naim高人一筹的设计理念。在SACD的风头下，HDCD已被人们渐渐谈忘了，在英制的CD机上还会被强调，在美制CD机上只能算是“附属功能”，在日制CD 机中，也已逐渐被忽略了。属于英系的CD5X保留了这个功能，不仅是所用解码芯片带有此功能，而且厂方是很认真地将这一功能发挥，播放HDCD时声音的细节有明显的改善。
    Naim是很有特点的音响品牌，CD5X自然也会带有其浓厚的声音特点，那就是音乐味，为听音乐而设计是它的追求也是其产品的特色。正因为特点鲜明，所以褒贬不一。不过从中立的角度看，音效派也好，音乐派也好，他们都是有追求的，彼此也有互通的地方，听听何妨。说不定听完之后你的观点也会随之而变，我深信Naim的CD5X多少有那么点魔力。

Naim的cd player設計方向
Naim音响公司采用大部与钗h低档机所用的相同的集成电路，作出了价值高达3000英磅的cd唱机。该公司的创始人Julian Vereker的说法如下，音响工程是最难解决的电子学课题之一，“必须处理15种8度音和100dB的动态范围”。他的音响获得这些指针的方法，是以系统来消除薄弱环节的问题。Vereker说，包括大部分数字电路的芯片组并不是薄弱环节。 该公司采用的是菲利浦公司的芯片组，包括译码器，侦错电路，数/类（D/A）译码，伺服驱动器以及雷射读取芯片，Vereker说“我们假定，菲利浦公司当时在设计这些芯片时，很明白这些芯片将用来做什么，我们相信他们的设计”。这与其它一些音响公司在努力改进性能时，总是把眼睛盯住所用的器件和技术的来源形成鲜明的对比。虽然有的公司已从器件方面得到了些好处，但另一些公司从中尚无所获。

然而，Naim公司却把眼睛盯住整个音响系统，这样能得到显著的改进。值得密切注意的一环是D/A转换器后面的抗扰频（antialiazing)滤波器。D/A的输入信号频率为44.1KHz，位数为16位。由于音频带宽仅仅延伸到20kHz，所以，有人相信，要把数字量化（噪声）移去，只需要简单的模拟滤波器。

事实上，模拟滤波器可完成更多的任务：对付急剧的下降（Steeproll off）的幅频特性，Naim公司采用了七极点设计的滤波器。这样做有两点理由。第一，虽然20kHz以上的频率，理论上不是音频，听不见，但威克尔相信：高频噪声对音质有影响。第二，电路的数字部分引入了显著的相位线性误差。即使不发生错误，也会产生某些奇怪的效应。还有就是要正确感受到声音的空间立体效应，两路立体声信道的相位必须匹配。

该滤波器由标准运算放大器做成。Naim公司的工程师测量了数字芯片的性能以及计算模拟相位响应的数据。从中他们开发了一种滤波器，在整个频率范围内，可产生接近线性的相位响应以及平坦的频率响应。Naim公司在cd唱机的开发中，一个起重要作用的因素，是颤噪声（Microphong)效应的识别。Vereker观察过去所用的集成电路，除了发现硅器件对振动灵敏外，其它未发现什么问题。单个晶体管一般无问题，但公司已避免采用运放电路，因为当输出端噪声显著时会出现振动。

cd唱机的设计除了采用集成电路外，又别无选择，按Vereker的说法，所用的大部份数字芯片都有颤噪声。解决办法是把印制电路板用弹簧将它与激光唱机底座在机械上隔离开来。细心设计的三支弹簧将会把产生的振动阻尼掉。

将激光唱机的转盘隔离也是必要的，因为激光的聚焦情况以及转速都可能受振动的影响，顺便提及，弹簧需要很仔细地选择，因为最后受阻尼的振动并不一定为伺服驱动器或光拾音器电路时间常数的子谐波（submultiple）

Naim公司进一步采用了夹紧的设计，将激光唱片保持固定在转盘上。钗h厂家采用了牢固地夹紧措施来保证无滑动。但是，这样却能很可能把伺服电机的振动传送到光盘。Naim公司采用光磁夹紧（light magnetic clamp）方法来保持光盘既足够牢固又能使振动的影响减到最小。Vereker借助于实验：把机器固定在实验室的实验台上，测量激光唱机的输出频谱表明，当电路板有弹簧时，噪声跌落40dB，这是对那些认为把注意放在降低振动上是陈腐的观点的一种驳斥。

另一种潜在的薄弱环节是电子电路的定时。Vereker说“在模拟电路中要处理频率和幅度，但在数字系统中，处理的是时间”。他估计在cd唱机中的定时要精确到10的负九次方秒。当信号被重复计时时，误差会导致产生晃动，从而使音频输出发生畸变。

时钟本身是石英晶体，因此没有问题。但是印制电路板的布局是重要的，因为长的引线或电路走线会引起时延。Naim公司在它的印制电路板布局，减少尺寸以及合理走线方面花了很大精力。射频设计所用技术和方法都使用了。最值得注意的是采用大量的弯曲走线来减小急剧的阻抗变化。

电源噪声也是对数字信号有影响的。首先Vereker假定，cd唱机并不需要像模拟放大器所需的低噪电源（在模拟放大器中，电源噪声直接成为音频噪声）。但是，电源噪声窜入数字信号将会产生显著的定时误差，使音频输出发生畸变。要克服这些，归根到底cd唱机必须要用合适的电源，它在性能上要与最好的模拟系统所用的电源等效。

雷射头是cd唱机中的另一个要求严格的器件，尽管菲利浦提供的电路工作得不错，但考虑到它们集成在系统中，潜在的问题还是有的。cd唱片有一系列的凸起部分，这是在压制时产生的，它代表了音频信号。盘的表面是镀的，所以反射性能很好。

来自红外线二极管的光经聚焦射在唱片上。当光射中镀银表面的平板时，光被反射回去，但是，当光射中凸起部分时，光就被散射，检测器接收不到红外光线。于是，当散射光能从雷射转盘机构的其它部分反射回来时，问题就发生了。这些光大多没有什么影响，但是，常有足够光到检测器，从而引起误差。

这种误差对音频信号的影响是难以定量表示，但人耳的感觉却是很清楚的，Vereker把它的作用描述为使声音像敲“破铜烂铁”（“brash and clangy”）。解决的办法是把红外吸引涂料涂在有问题的地方，因为在正常的机械运转时，涂料可能被频繁地碰触，这样会降低涂料的吸收性能。

Naim公司把激光唱机作为一个整体来设计，反映了系统设计师有价值的战略眼光。集中在系统元器的精力是很少的，因为元器件已经工作得不错，这时从重视其它方面可得到更显著的收益。Naim在超级Hi-Fi系统方面的声誉卓著，其中原因之一就是很重视注意到一些细节。总之，凡影响音质的每个环节都要进行分析，试验和评价。

我们需要把系统作为一个整体来理解，凡影响最终性能的每一方面都要进行分析，试验和评定。对系统设计来说，把眼光只盯在对性能有最显著影响的元器件，常常不是最佳的方法。

http://bbs.hifidiy.net/viewthread.php?tid=517289

NAIM的机架 ，对声音帮助很大，就是太贵了，呵呵
在机架的帮助下，XS2也可以推好S400
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Naim太过保守，设计上没有平衡输出绝对是败笔，市场是在发展的。

所以，Naim这几年的业绩不理想，现在只能被focal收购

Naim Supernait integrated amplifier
By Art Dudley • Posted: Jan 30, 2008
"We've tried making it more powerful. When I was away on holiday, some of our people cooked up a more powerful version and presented it to me on my return. It sounded awful."

That was Naim Audio's founder, the late Julian Vereker, MBE, talking to Sam Tellig about the 15Wpc Naim Nait 2 integrated amplifier, as reported in the April 1990 Stereophile (Vol.13 No.4). His words were the first thing this ever-cynical reviewer thought of upon learning that, some seven years after Vereker's death, the company he left behind had been rattling those same pots and pans.

Then again, after 23 years of writing about domestic audio, I've come to where I can tell when a company is promoting a product simply because they must, and when there's some sense that the thing they're offering is special. And it's obvious: Everyone at Naim thinks that the new Supernait integrated amplifier is really special.

So my hopes of pre-judging a new audio amplifier were once again dashed: I would have to get my hands on a Supernait, read the owner's manual, install it, and use it to play music. Most of which seemed like a pleasant idea, once I stopped to think about it.

Description
A considerable increase in power is not the 80Wpc Supernait's only calling card: It also contains a 24-bit D/A converter, addressable through any of five S/PDIF inputs: two RCA coaxial jacks, two TosLink optical jacks, and one front-mounted 3.5mm "mini-TosLink" jack, the latter for use with portable media players, which also accepts analog signals. That's a remarkable thing, made all the more remarkable by the fact that Julian Vereker also scorned the idea of having D/A converters and their datastream sources physically separate from one another. It's getting so a fella can't even leave the planet for a few years without other people coming in and stirring the pot.

The Supernait's digital input section begins with a Crystal CS8416 receiver chip, which identifies the incoming datastream as 44.1, 48, 88.2, 96, or 192kHz. Conversion is handled by a stereo 24-bit/192kHz D/A chip from Burr-Brown. As the owner's manual states, the Supernait's digital circuitry is designed to recognize stereo PCM datastreams only; its digital output will be muted in the face of DSD, DTS, or other such data. Absent a recognizable digital input signal of any sort at any of the five inputs, the S/PDIF board powers down altogether, in an effort to maintain the purity of an alternative (analog) signal.

The Supernait's analog inputs outnumber their digital counterparts: There are six in all, most of them addressed by both RCA jacks and Naim's traditional DIN sockets. (Where both exist for a given input selection, the two types of jack are wired in parallel with one another.) The DIN input socket reserved for Aux 2 also contains a 24V DC output, to power one of the company's outboard phono preamplifiers. (Typically, that would be the Naim Stageline, although I imagine the company's Prefix, specific to the Linn LP12 turntable, would work as well.)

Unlike other recent integrated amps, the Supernait incorporates a fully active line-level preamp, said to be derived from class-A circuitry developed for the company's flagship NAC-552 ($28,100 including companion power supply). Volume and balance are controlled with very-high-quality potentiometers—I heard not the slightest trace of degradation when adjusting the latter to the left or right of center—which are motorized for use with Naim's standard remote handset. I was very happy that the serenely attractive Supernait lacks a digital display; instead, it has a single tiny LED each for the volume and balance knobs, and equally subtle illumination for the soft-touch selector switches. (I can also live without knowing which digital sampling frequency is in use at any given time, though not everyone may share that indifference.) Sadly, unlike the NAC-552, the Supernait has no mono switch.

The output section of the Supernait's power amplifier, derived largely from Naim's NAP200 amp ($3100), is biased to operate in quasi-complementary class-B. That's very much a Naim tradition, albeit one that Julian Vereker suggested wasn't a strict requirement for good performance, but merely an architecture within which he was comfortable working. (Vereker also thought it possible to make an excellent-sounding tube amp, but disliked working with such high voltages.) According to some Naim insiders, the quality of their power transformers—designed in-house and sourced from the same company for most of Naim's existence—is among the keys to their amplifiers' musical success. One staffer told me that Naim has actually looked into the idea of using switch-mode power supplies in some products, going so far as to build a couple units of the company's classic NAP250 using such a thing—but the noise levels were always unacceptably high compared with the more traditional approach.

Setup
A pioneer in recognizing the need for good power-supply design, Naim Audio has also distinguished itself with an original approach to power-supply implementation. Almost from day one, Naim has made sure that all of their low-level circuitry is kept as far as possible from the power-supply circuitry that feeds it, and that all amplification circuits use a central point within that remote power supply as a common reference for zero voltage potential: a system-wide star ground, if you will. That philosophy has given way to a commercial line in which remote power supplies are available for many of their products—as standard items or, just as often, as upgrades representing various levels of cost and refinement.

Naim Supernait integrated amplifier Page 2
    
          So it goes here: As a first step, one can upgrade the performance of a Naim Supernait with the addition of a Naim FlatCap2x power supply ($1150), whereby the latter provides a cleaner, stiffer, and altogether more serene 24V to the analog preamp section of the former. After that, the HiCap2 ($2050) and even SuperCap2 ($6350) power supplies may be applied.The potential for upgrading a Supernait doesn't end there: One can also buy any of Naim's separate power amplifiers, for use in place of the Supernait's own, by means of its preamp-out jacks. Or, a Supernait owner who has biampable loudspeakers could buy that extra amp and, via an entirely different set of jacks on the Supernait, use it alongside the Supernait's own.

I didn't do any of those things, but I did borrow a Naim Stageline-S phono preamplifier ($485), which I connected to the Supernait's Aux 2 socket using the 5-pin-to-5-pin cable Naim supplied for that purpose, for signal and DC power. Beyond that, there was nothing extraordinary about my Supernait installation. I used it in two different systems, on two different, lightweight tables, but otherwise paid no special attention to siting or isolation. I used only the 14 AWG power cable that came with it. And I mostly used Naim's own NACA-5 loudspeaker cable, terminated with Naim's 4mm plugs—although I took a chance and also tried my own 6m pair of Auditorium 23 cables, which are at least superficially similar to Naim's own stranded-copper cables. Nothing blew up, and the system sounded good; I seldom ask for more than that.
I noticed one good thing right off the bat: The Supernait didn't produce the same loud switch-on thump I've come to associate with earlier integrated amps and preamp-amp combinations from Naim, more than a few of which I've owned over the years. That's reportedly because the Supernait uses separate internal power supplies for its switching circuitry, along with its digital circuitry and front-panel microprocessor. Thus, the analog preamp and amp supplies aren't stressed when the power switch is thrown.
The only glitch I encountered was when I first connected the Naim Stageline-S phono preamp to the Supernait's powered DIN socket. I muted the amp before doing so, but in the interest of keeping the Supernait fully warmed up, I neglected to turn off its power switch before remaking the connection—which is clearly warned against in the manual. The tiny but inevitable bit of DC noise that resulted triggered the Supernait into a forced mute mode, where it resolutely remained for 30 seconds before returning to normal. During 29 of those 30 seconds I held the heels of both hands against the sides of my head and muttered a profanity over and over, directed at myself. I learned a darn good lesson that day.
Listening
My first music experience with the Supernait came courtesy of the Tone Poems album by mandolinist David Grisman and guitarist Tony Rice (CD, Acoustic Disc ACD-10). Listening to the Supernait in place of the Quad II amps that usually drive my Quad ESL loudspeakers, with my Sony SCD-777 SACD/CD player driving the Naim's analog inputs, I was struck at first by how much larger than usual the two instruments sounded on the first track, "Turn of the Century." The Naim was also more explicit than my older tube amps, and gave good insight into the minutiae of Grisman's and Rice's playing techniques: slurs, slides, subtle dynamic nuances, and the like.
On that disc and the others that followed, the Supernait displayed the sort of overall tonal balance that one might think of as the Naim "house sound"—or at least an updated version thereof: Its treble extension was a bit rolled off, compared to that of other modern amps, but not so much as to make it sound dull. Indeed, this incarnation of the Nait integrated was the airiest and most open yet—and I've heard them all so far. Throughout the rest of the sonic spectrum, the Supernait continued the trend that seems to have blessed virtually all of the company's electronics and CD players over the past five years: The sound was less "gray" than earlier Naim products, with more timbral color and texture, albeit not to the levels of same that one expects from very good, very low-power tube amps.
A few days later, having left the Supernait to warm up and run in as much as possible, I returned to Tone Poems—but this time I bypassed my Sony's internal D/A converter, connecting its transport to one of the Supernait's (coaxial) digital inputs. The sound was darker still—pleasantly so, although I wouldn't have wanted any less in the way of treble extension. At the same time, I found it easier to relax with the music, and to follow and make sense of the melodies: My system sounded just a shade less "hi-fi" with the Sony's transport addressing the Naim's digital input.
Using the Naim's digital input to play the Del McCoury Band's cover of Richard Thompson's "1952 Vincent Black Lightning," from Del and the Boys (CD, Ceili Music CEIL 2006), my impression was of greater-than-usual musical precision. Mike Bub's acoustic bass line was a model of pure momentum and insistence coupled with truly metronomic accuracy. Bub's intonation, too, came over as dead right—and I dare say that pitch uncertainties were banished to such a great extent that more timbral clarity was able to come through as well, despite the darker tonal signature. Throughout the spectrum, in fact, clutter was banished in favor of order and precision. Rob McCoury's tonal shifts on the banjo—muting with the palm of his hand, altering his distance from the instrument's bridge—were preserved, and were signaled with greater clarity than by any other amp in the house, save for the Shindo Masseto preamp and Cortese amp.
Listening to Joanna Newsom's brilliant Ys (CD, Drag City DC203CD), with its generally rich, predominantly acoustic arrangements, it was again clear that Naim has made real progress since the very first, mildly clangy-sounding Nait integrated from 1983, in terms of preserving texture and color without compromising the signature Naim strengths of good pitch accuracy and timing. The new Naim sounded especially rich in its lower registers—the sheer thrum of Newsom's Lyle and Healy harp was superb, with very good bass weight and depth. Again, trebles weren't as extended or airy as some would like to hear, nor were the highest overtones quite as delicate and sinewy as with my tube gear—or, for that matter, the very good combination of DNM 3D preamp and PA3_S power amp, which is also in house. The DNM and Shindo combos also did a better job of bringing the voice forward from the rest of the mix, as well as "freeing" the sounds of the strings from everything else, and capturing a more human feel throughout. But the Naim had tremendously good moving clarity, for lack of a better expression: It was explicit at showing me where each line was going, as in the dramatic ritards at the ends of some sections in Newsom's "Emily."
Soon after sorting out the Naim Stageline phono preamp and its connections, I played an impressive vinyl reissue of Dexter Gordon's One Flight Up (LP, Blue Note/Cisco Music BLP-84176)—highlighting, in the process, many of the same strengths described above. The Donald Byrd composition "Tanya" opens with a simultaneous snare-drum stroke and a low B-flat on the upright bass, leading into a steady ride-cymbal pattern. The Naim, ever the rhythm section's friend, truly nailed the excitement of every such downbeat, and maintained a high level of musical excitement throughout the entire 18-minute piece. It nailed the color of the bass and the reeds, too, and gave a good sense of the sheer temporal randomness of Kenny Drew's piano chordings. The only thing lacking was the last bit of delicacy in the cymbal work, which sounded less mechanical and even somewhat more melodic, if you will, through my best tube gear.
In keeping with all of my earlier Naim experiences, the most important aspect of the Supernait's performance—the thing I found myself jotting down in my notes, again and again—was not the treble this or the imaging that, but rather the success with which the gear disarmed me and made it easy to enjoy the notes and the beats. I was sold on the Supernait—the concept and execution, if not the merchandise itself—when I used it to listen to Elisabeth Schwarzkopf's lovely recording of Strauss's Last Four Songs  (LP, Angel S 36347). The music began to draw me in with the first notes; two dozen measures later, when the sound of the orchestra unfolded and became huge, it was obvious that the Naim knew just how to play it: follow the drama, the curves of the melodies, and the change in intensity when the singer leans into it. Make her voice sound like her voice. Make it big when it's supposed to be. Don't add any noise. Finis.
Conclusions
Back in 1983, the Naim Nait integrated amplifier was introduced as a sort of bare-bones, hair-shirt entrée to the world of Naim amplification—which was then and is now demonstrably different from everyone else's world. It sold for around $500.
In 2007, that particular torch is carried well by the Naim Nait 5i, which sells for $1495. All things considered, today's entry-level Naim is only a slightly greater investment than the original, even though its shirt is less hairy.
The Supernait is something different altogether—and demands a different sort of comparison in terms of performance and price. Apart from the vintage pieces I've owned and enjoyed in recent years, my last Naim preamp-amp combination, purchased new, was an NAC72 preamp with HiCap power supply and an NAP250 power amp. The Supernait sounded somewhat better than my memory of that system, and played music almost as well. I would still give even an older NAP250 a slight edge in terms of sheer musical momentum.
The new Naim is the most well-made Nait: on a par with Naim's top electronics, with a build quality that befits a $4950 amp. The question remains: Does the Supernait deliver $4950 worth of music? To answer that, one has to keep in mind the uniqueness, and the evidently good engineering, of its onboard D/A converter. If you lack the ability or the interest to take advantage of that feature, then I don't think the Supernait would be a very good value for you, fine and flexible though it is. But if you intend to couple it with a similarly good datastream source—and I can't help wondering what, if anything, that implies for the future of Naim's CD-player line—then it's hard to imagine a $5k investment delivering more genuine musical involvement and satisfaction. The Supernait is a bold move on Naim's part; having now lived with it, I can tell why they're proud.