Embodiments of this application relate to the technical field of camera modules to resolve an issue of miniaturization of camera modules. The embodiments of this application provide a camera module and an electronic apparatus. The camera module includes: a circuit board; an image sensor and a driver circuit that are located on the circuit board; an upper lens barrel and a lower lens barrel that are located on a side of the image sensor away from the circuit board; a connecting circuit located on the lower lens barrel; and an adjustable lens disposed inside between the upper lens barrel and the lower lens barrel. The adjustable lens is electrically connected to the driver circuit through the connecting circuit, so as to deform under driving of the driver circuit to adjust a focal power of the camera module. Such camera module has an advantage of small volume ratio.