An electronic device according to various embodiments of the disclosure includes: a first housing; a second housing configured to be unfolded by a specified angle with respect to the first housing and to rotate about a folding axis; at least one hinge structure including a hinge providing the folding axis and disposed between the first housing and the second housing to rotatably connect the first housing and the second housing; a hinge cover accommodating at least a portion of the hinge structure therein and selectively exposed based on the rotation of the second housing; a first speaker module including a speaker accommodated in the first housing; and a second speaker module including a speaker accommodated in the second housing, wherein in the first state, the first speaker module is configured to discharge sound to the outside of the electronic device via a first area provided in the first housing, a second area provided in the hinge structure and contact with the first area, and a first through-hole extending through the hinge cover, is exposed to the outside in the first state, and is configured to be selectively closed based on the rotation of the second housing.