This study investigates the effectiveness of reading aloud tasks through a mobile phone with a focus on EFL vocabulary and reading skills. For the purpose of the study, 70 Korean college students were recruited. All participants were freshmen taking an English course. Divided into two groups, mobile phone assisted reading aloud group (n = 34) and traditional reading aloud group (n = 36), the participants read one given passage aloud every week. During eight weeks of the experimental period, to engage in reading aloud tasks, the mobile phone group used a mobile phone, while the traditional group did not. They were required to take vocabulary and reading comprehension pre- and post-tests as well as an attitude questionnaire. Positive changes were found on all participants’ vocabulary and reading comprehension skills. The mobile phone assisted reading aloud group, particularly, showed more improvement. With regards to reading comprehension skills, it is interesting to note that the traditional group significantly performed better than the mobile phone group on the pre-test, but the two groups became homogeneous on the post-test. Survey results indicate that mobile assisted reading aloud tasks positively affect EFL learners’ interest, anxiety, and stress in English learning. Based on these findings, implications and suggestions are made.