Provided are a loudspeaker module and an electronic device, belonging to the technical field of loudspeakers. The loudspeaker module includes a housing, a connection assembly and a magnetic circuit assembly. A vibration unit and a sound generating unit are disposed in the housing. The connection assembly includes a protrusion, and one end of the protrusion is connected to the housing. The magnetic circuit assembly is disposed between the vibration unit and the sound generating unit, and the sound generating unit shares the magnetic circuit assembly with the vibration unit. The magnetic circuit assembly includes a pole piece and a main magnet, the pole piece is connected to another end of the protrusion, and the main magnet is disposed on the pole piece. The loudspeaker module is capable of having loudspeaker function and vibration motor function, facilitating the miniaturization of the loudspeaker module and the electronic device having the loudspeaker module.