A speaker assembly with a readily replaceable cone that is mounted to a depression 24 within a peripheral channel 22. The cone 30 is kept in place with a ring 40 that coacts with the cone 30 at a peripheral step 35 located a predetermined distance from the cone's distal end 32a. Fastening members 50 keep the ring 40 secured to basket assembly 20 reducing the performance fatigue of cone 30.