An electronic device and communication coverage compensation method thereof for use in short range communication. An electronic device includes a housing, a radio communication circuit arranged in the housing and configured to support radio communication with a neighboring electronic device, a processor arranged in the housing and electrically connected to the radio communication circuit, a memory arranged in the housing and electrically connected to the processor, the memory storing instructions that, when cited by the processor, cause the processor to communicate with the neighboring electronic device with the radio communication circuit, change, when detecting an event triggering a change from a first symbol rate to a second symbol rate, from the first symbol rate to the second symbol rate, determine a compensation value based on a coverage range, and adjust a transmit power of the radio communication circuit based on the compensation value.