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The standard format used by iTunes, AAC or Advanced Audio Coding, is also used by Sony's Playstation 3 as it has better sound quality than MP3 when compared at the same bitrate.
It features more sample frequencies than MP3, better handling of frequencies above 16KHz, and higher coding and compression efficiency. It also features more sophisticated error detection and correction techniques.
For these reasons, this codec is growing in popularity and is supported by the Sony Walkman, the Sandisk Sansa, the Microsoft Zune and the Palm OS PDAs with music player support.