In accordance with certain embodiments of the disclosure, an electronic device comprises a communication circuitry configured to transmit or receive a first wireless communication signal to an external device in a first communication scheme; a memory; and a processor, wherein the processor is configured to: scan for a second wireless communication signal by a second communication scheme proximate to the electronic device; operate in a first mode of controlling a transmission power of the first wireless communication signal based on receive sensitivity for the first wireless communication signal of the external device, when the second wireless communication signal is determined to interfere less than an interference level with the first communication scheme; and operate in a second mode of transmitting the first wireless communication signal at a higher transmission power than the first mode, when the second wireless communication signal is determined to interfere in excess of the interference level with the first communication scheme.