The company behind Gramofon is Fon which is well known manufacturer of WiFi routers in Europe. What this small yet powerful device does is that it can transform any sound system in to cloud jukebox so that you can stream from a variety of cloud services such as Spotify, Amazon etc.
The Gramofon is not battery powered and requires to be powered via 5V/1A DC adapter. It has Ethernet port and 3.5mm audio jack. It will have its own smartphone app and you will have full control of the type of music you want to play.
The Gramofon is also a complete wireless router and serves as AP, Hotspot, WPS and also supports bridge mode to extend range of your exiting WiFi signal. Even your friends and family can control Gramofon via its smartphone app.
Currently the Gramofon is seeking funds as a Kickstarter project and if it does go into mass production, then it will cost around $50 which for a mini cloud jukebox cum wireless router is more than acceptable. It has already started shipping and you can easily grab one from Amazon (details here).