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An MP3 player is actually a media player and not specifically a device that plays MP3 files. It is the former popularity of the MP3 format that makes us still use the term when it comes to media players. Today, many different audio formats are used, and modern MP3 players can often play lots of different formats. In addition, sometimes, they have a video playback feature.
A smartphone is a phone. An MP3 player is used only to store and play media files of various kinds. However, some MP3 players support mobile data networks and can be used with streaming services and various apps. However, a smartphone usually has at least the same specifications in terms of file support and storage as an average MP3 player, and if you have a smartphone, it is hardly necessary to buy an MP3 player.
It's different from player to player. Many MP3 players connect via USB to a computer. After that, the transfer of the music takes place either through a specific software installed on the computer or by simply dragging and releasing files like when sharing folders in general. Some MP3 players also allow you to transfer files over Wi-Fi or Bluetooth.
Most MP3 players in the 40–50 pound range are roughly equivalent. It is only when you look at the more expensive MP3 players that you can find some major differences. It is primarily about sound quality, features and storage space. Anyone who uses Apple's products to a large extent gets a very comfortable experience with an iPod Touch, but it is also a relatively expensive MP3 player.