Originally Posted by Carlos Lindado
Well, it may not be standards-compliant, but it does use the exact same "Lossless JPEG" file format as the embedded thumbnail, so I consider it JPEG. If you look at the source code to the raw converter, you'll see that it uses the exact same function to read the embedded thumbnail as it does to read the sRAW, the only difference is bit depth. They both even use the same 4:2:2 compression (i.e. throw away half the color information).
Perhaps a better way to think of it is as a 15-bit TIFF file with half the color pixels missing.
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