An electronic device having one or more magnets disposed within it (e.g., such as in a speaker) is equipped with a magnetic shield that attenuates magnetic fields propagating outside of the electronic device. The magnetic shield may be placed within the device such that it redirects the magnetic fields to contain them better within the one or more magnets, resulting in improved magnetic efficiency. In further embodiments, the magnetic shield may also function as a structural part of the electronic device and/or an electronic component with in the electronic device.