The invention discloses a camera module and electronic equipment. The camera module comprises a first lens assembly, a second lens assembly and a third lens assembly, wherein the first lens assembly is located in a shell of the electronic equipment; the second lens assembly can retract into and extend out of the shell of the electronic equipment, and an included angle is formed between the secondlens assembly and the first lens assembly; the photosensitive element is arranged on one side of the first lens assembly; the light guide part is arranged between the first lens assembly and the second lens assembly, and light penetrating through the second lens assembly is suitable for being guided into the first lens assembly through the light guide part. According to the embodiment of the invention, the camera module has the advantages of long focal length and small height, the overall structure of the camera module is more compact, the overall size is smaller, the height is smaller, the packaging size is reduced, the thickness of the whole machine is reduced, the whole machine is lightened and thinned, and the placement of other devices in the whole machine is facilitated. Moreover, popup of the second lens assembly can be conveniently realized, and the optical path is prolonged.