Disclosed are a method for reducing device power consumption and an electronic device. A master device establishes a wireless connection to a slave device, and then determines whether the slave device is a human interface device. If the slave device is the human interface device, the master device determines whether a preferred connection parameter of the slave device is obtained, where the preferred connection parameter includes a slave latency, and the slave latency includes a quantity of connection events the slave device skips before responding to a data packet sent by the master device when the slave device has no data to send to the master device. If the preferred connection parameter is obtained, the master device determines whether the slave latency is 0 or is less than a first threshold, and, if so, the master device initiates parameter update to the slave device.