The present application discloses a backlight module and a mobile terminal. The backlight module includes a reflection layer and a light adjustment layer that are arranged oppositely, wherein he reflection layer is disposed at a periphery of each of light sources, the light adjustment layer includes first light guide portions and a second light guide portion, a light transmittance of each of the first light guide portions is lower than a light transmittance of the second light guide portion, and the reflection layer includes a diffuse reflection sub-layer at least partially overlapping with at least one of the second light guide portion, and a specular reflection sub-layer at least partially overlapping with at least one of the first light guide portions.