A speaker includes a frame, a vibration system, and a magnetic circuit system. The vibration system and the magnetic circuit system are respectively disposed on the frame. The vibration system includes a sound film and a voice coil. The voice coil drives the sound film to vibrate and sound. The magnetic circuit system includes a lower clamping plate, a first magnetic steel, and a second magnetic steel. The first magnetic steel is disposed on the lower clamping plate. The annular second magnetic steel is disposed on the lower clamping plate and surrounds the first magnetic steel. The first magnetic steel and the second magnetic steel are disposed at intervals to form a first gap. The speaker has better performance.