A speaker module is disclosed, which comprises an inner cavity defined by a shell, and a magnetic circuit system and a vibrating system arranged inside the inner cavity, wherein the vibrating system comprises a vibrating diaphragm fixed in the inner cavity, a voice coil is fixed to a lower end of the vibrating diaphragm, a first induction coil is provided to an upper end of the vibrating diaphragm, the voice coil is electrically connected with the first induction coil via its down-lead, and a second induction coil is provided above the first induction coil for electrically connecting a terminal device. When the speaker module operates, the terminal device conducts a current signal of an external audio to the second induction coil, so that the second induction coil generates a magnetic field which changes along with the change of the audio signal current.