An electronic device according to various embodiments of the disclosure may include: a first housing, a second housing configured to be movable with respect to the first housing, a flexible display coupled to the first housing or the second housing to be movable together with a coupled housing, an illuminance sensor, and a processor, wherein the processor is configured to: measure an illuminance value using the illuminance sensor, determine an area of interest based on a movement of the flexible display, obtain color information on an image displayed in the area of interest, calculate a correction value using the obtained color information, correct the measured illuminance value based on the calculated correction value, and adjust luminance of the flexible display using the corrected illuminance value.