Mobile devices have become attractive learning devices for education. It is common to assume that our current undergraduates are digital natives who are naturally proficient and expert in the use of technology so do mobile devices such as Smartphone. Smartphone has become more of a computing device and are multi-functional, hence, its use as a learning tool needs to be assessed for its effectiveness. Researchers in the field of technology acceptance have been consistently improvising the technology acceptance models to fit in different contextual parameters. Unified Theory of Acceptance and the Use of Technology model 2 (UTAUT2) has gained a lot of credibility in this area and hence better suited for this study. This research is an attempt to understand the potentials of the acceptance of Smartphone underpinning the UTAUT2 model for the undergraduate Business students of a reputed private University in Bangladesh.