How to develop or migrate apps for iPhone 5 screen resolution?

Question

The new iPhone 5 display has a new aspect ratio and a new resolution (640 x 1136 pixels).

What is required to develop new or transition already existing applications

Answer 1

I would suggest to use Autoresizing Mask in your applications according to your UI interface, it saves a lot of trouble and is better than making different UI for iPhone 4 and 5 screens.