An electronic device is provided. The electronic device includes: a foldable housing comprising a hinge structure, and a first and a second housing structures connected to the hinge structure; a flexible display, a wireless communication circuit disposed inside the foldable housing; a grip sensor disposed in the foldable housing; at least one sensor disposed inside the foldable housing; a processor disposed inside the first housing structure or the second housing structure and operatively connected to the flexible display, the wireless communication circuit, the grip sensor, and the at least one sensor; and a memory, operatively connected to the processor, storing instructions that cause the processor to: measure an angle between the first and the third surface and/or an angle between the second and the fourth surface; detect a distance between the foldable housing and an external object; and control transmission power of the wireless communication circuit.