With respect to an electronic device and an electronic device operating method, according to various embodiments, the electronic device comprises: a communication module including a communication circuit and at least one processor, comprising processing circuitry, configured to support short-range wireless communication; and at least one application processor, comprising processing circuitry, electrically connected to the communication module through an interface supporting a plurality of operating modes, wherein at least one processor, individually and/or collectively, can be configured to: select one operating mode from among the plurality of operating modes based on capability information about the external electronic device, received from the external electronic device; and transmit data to the application processor through the selected operating mode and/or receive, through the selected interface, data transmitted by the application processor, and the capability information about the external electronic device can be configured to be received from the external electronic device before completion of the establishment of the short-range wireless communication.