A loudspeaker module comprises a loudspeaker unit and a module housing. A front acoustic cavity and a rear acoustic cavity are formed between the module housing and the loudspeaker unit. The upper and lower ends of the front acoustic cavity and the rear acoustic cavity are open. The upper and lower end surfaces of the module housing are combined with a terminal electronic device through sealing cushions. An electronic device is also disclosed. The upper and lower surfaces of the module housing are combined with the circuit board or the device housing through sealing cushions. Such a structure fully utilizes the spaces of the loudspeaker module and the electronic device, expands the internal space of the loudspeaker module, increases the sizes of the loudspeaker unit and the sound cavities, and accordingly improves the acoustical performance of the product.