A portable electronic device includes a housing defining a mounting slot; and a chip card holding mechanism assembled within the housing for holding a chip card. The chip card holding mechanism includes a receiving tray slidably mounted on the housing, and an unlocking assembly for unlocking and ejecting the receiving tray. The receiving tray includes a tray body and a draw-off portion formed at one end of the tray body. The draw-off portion has an inclined resisting surface towards the tray body. The unlocking assembly is mounted in the housing and capable of resisting the inclined resisting surface to drive the receiving tray to move relative to the housing, and thereby eject the receiving tray.