An electronic device and method for changing a path of an audio signal by the electronic device are provided. The method includes obtaining an electromagnetic signal (EM) signal of an external electronic device through EM sensing circuitry, identifying the external electronic device based on the obtained EM signal, changing the path of the audio signal that is output by the electronic device to be output through the external electronic device, when the identified external electronic device is capable of inputting or outputting the audio signal and is connected with the electronic device, and displaying, on a touchscreen display of the electronic device, a screen for establishing a communication connection with the external electronic device, when the identified external electronic device is capable of inputting or outputting the audio signal and is not connected with the electronic device.