An electronic device includes a foldable housing including a first surface and a second surface opposite to the first surface, a first display arranged on the first surface and configured to be flexible, a second display arranged in at least a partial area of the second surface, and a processor arranged inside the foldable housing. The processor detects that the foldable housing is unfolded to a first angle from a fully folded state, displays a first GUI associated with a first application on at least a partial area of the display, detects that the foldable housing is unfolded to a second angle greater than the first angle, displays a second GUI associated with a second application, and executes the second application when the foldable housing is folded back into the fully folded state.