The present invention relates to an electro-acoustic transducer suitable for applications within mobile communication equipment and hearing aids. The transducer comprises two diaphragms positioned on opposite sides of a magnetic circuit having two magnetic gaps. When used as a microphone the transducer is substantially insensitive to vibrations, and when used as a speaker the transducer generates only very low vibration levels. The magnetic circuit has a number of advantages compared to conventional transducers with circular magnetic. The transducer can be made lightweight and with very compact dimensions compared to conventional designs. In a preferred embodiment the diaphragms are rectangular. The transducer may additionally be used as a vibration generator for silent alarm signals.