A portable terminal with a speaker device includes a body housing, and a speaker module provided in the body housing and slidably retracted or extracted into/from the body housing. The speaker module includes a speaker housing slidably settled in the body housing, guide rails provided in the body housing, for sliding the speaker housing, at least one guide protrusion provided on the speaker housing and slidably engaged with the guide rails, and a moving member protruding from the speaker housing to an outside of the body housing, for retracting or extracting the speaker housing into/from the body housing.