An electronic device comprising: a first housing including a first face and a second face, the second face being a rear side of the first face; a second housing including a third face and a fourth face, the fourth face being a rear side of the third face; a folding part rotatably connecting the first housing and the second housing to each other; a flexible display disposed on the first face and the third face across the folding part and including a first area corresponding to the first face and a second area corresponding to the third face; at least one camera exposed through at least a portion of the fourth face; a sensor configured to acquire information associated with an orientation of the electronic device; at least one memory configured to store instructions; and at least one processor, wherein the at least one processor is configured, when the instructions are executed, to: execute a camera application based on a user input, while the camera application is executed: - determine a folded state of the electronic device and - determine a direction in which the at least one camera is pointed relative to the ground based on the information acquired through the sensor, identify at least one of the first area or the second area as a preview area in which a preview image acquired through the at least one camera is to be displayed, based at least on the determined folded state and the determined direction, display the preview image, acquired through the at least one camera, in the first area using the flexible display based on the determined direction in which the at least one camera is pointed corresponding to a first direction relative to the ground, and display the preview image, acquired through the at least one camera, in the second area using the flexible display based on the determined direction in which the at least one camera is pointed corresponding to a second direction relative to the ground, which is distinct from the first direction. a first housing including a first face and a second face, the second face being a rear side of the first face; a second housing including a third face and a fourth face, the fourth face being a rear side of the third face; a folding part rotatably connecting the first housing and the second housing to each other; a flexible display disposed on the first face and the third face across the folding part and including a first area corresponding to the first face and a second area corresponding to the third face; at least one camera exposed through at least a portion of the fourth face; a sensor configured to acquire information associated with an orientation of the electronic device; at least one memory configured to store instructions; and at least one processor, wherein the at least one processor is configured, when the instructions are executed, to: execute a camera application based on a user input, while the camera application is executed: - determine a folded state of the electronic device and - determine a direction in which the at least one camera is pointed relative to the ground based on the information acquired through the sensor, identify at least one of the first area or the second area as a preview area in which a preview image acquired through the at least one camera is to be displayed, based at least on the determined folded state and the determined direction, display the preview image, acquired through the at least one camera, in the first area using the flexible display based on the determined direction in which the at least one camera is pointed corresponding to a first direction relative to the ground, and display the preview image, acquired through the at least one camera, in the second area using the flexible display based on the determined direction in which the at least one camera is pointed corresponding to a second direction relative to the ground, which is distinct from the first direction. execute a camera application based on a user input, while the camera application is executed: - determine a folded state of the electronic device and - determine a direction in which the at least one camera is pointed relative to the ground based on the information acquired through the sensor, - determine a folded state of the electronic device and - determine a direction in which the at least one camera is pointed relative to the ground based on the information acquired through the sensor, identify at least one of the first area or the second area as a preview area in which a preview image acquired through the at least one camera is to be displayed, based at least on the determined folded state and the determined direction, display the preview image, acquired through the at least one camera, in the first area using the flexible display based on the determined direction in which the at least one camera is pointed corresponding to a first direction relative to the ground, and display the preview image, acquired through the at least one camera, in the second area using the flexible display based on the determined direction in which the at least one camera is pointed corresponding to a second direction relative to the ground, which is distinct from the first direction.