An Edwardian equivalent of a CD player, which played flat black discs and powered by a spring that was wound by hand. Usually had a large sound trumpet on top to amplify the sound.
Word is used in a derogatory way when refering to (once) popular music that is out of date or old fashioned.
At a party, "I've brought my Abba CD's"
Host: "I'll wind up the gramophone"