An electronic device is provided. The electronic device includes a multi-foldable housing including a first housing, a second housing rotatably connected to one end of the first housing, and a third housing rotatably connected to the other end of the first housing, a first hinge for rotatably connecting the first housing and the second housing, a second hinge for rotatably connecting the first housing and the third housing, a flexible display exposed through a first display area of the first housing, a second display area of the second housing, and a third display area of the third housing, a cover display arranged in a fourth area that is opposite to the second display of the second housing, a first sensor, a second sensor, a third sensor, memory, and a processor operatively connected to the flexible display, the cover display, the first sensor, the second sensor, the third sensor, and the memory, wherein the memory can include instructions that, when executed by the processor, cause the electronic device to identify a folding state of the electronic device based on the sensing value of the first sensor, the sensing value of the second sensor, and the sensing value of the third sensor, and, based on identifying that the folding state is the first folding state, display, on the cover display, a screen related to an application being executed.