When supporting different screen sizes (densities) in Android often the focus is on creating different layouts for every possible screen. I.E.
You have to create Different values folder for different screens . Like
values-sw720dp 10.1” tablet 1280x800 mdpi
values-sw600dp 7.0” tablet 1024x600 mdpi
values-sw480dp 5.4” 480x854 mdpi
values-sw480dp 5.1” 480x800 mdpi
values-xxhdpi 5.5" 1080x1920 xxhdpi
values-xxxhdpi 5.5" 1440x2560 xxxhdpi
values-xhdpi 4.7” 1280x720 xhdpi
values-xhdpi 4.65” 720x1280 xhdpi
values-hdpi 4.0” 480x800 hdpi
values-hdpi 3.7” 480x854 hdpi
values-mdpi 3.2” 320x480 mdpi
values-ldpi 3.4” 240x432 ldpi
values-ldpi 3.3” 240x400 ldpi
values-ldpi 2.7” 240x320 ldpi
For more information you may visit here
Different values folders in android
http://android-developers.blogspot.in/2011/07/new-tools-for-managing-screen-sizes.html
Edited By @humblerookie
You can make use of Android Studio plugin called Dimenify to auto generate dimension values for other pixel buckets based on custom scale factors. Its still in beta, be sure to notify any issues/suggestions you come across to the developer.