From http://stackoverflow.com/questions/9506871/image-compression-by-size-iphone-sdk

resizeImageToSize

- (UIImage *)resizeImageToSize:(CGSize)targetSize
{
    UIImage *sourceImage = captureImage;
    UIImage *newImage = nil;

    CGSize imageSize = sourceImage.size;
    CGFloat width = imageSize.width;
    CGFloat height = imageSize.height;

    CGFloat targetWidth = targetSize.width;
    CGFloat targetHeight = targetSize.height;

    CGFloat scaleFactor = 0.0;
    CGFloat scaledWidth = targetWidth;
    CGFloat scaledHeight = targetHeight;

    CGPoint thumbnailPoint = CGPointMake(0.0,0.0);

    if (CGSizeEqualToSize(imageSize, targetSize) == NO) {

        CGFloat widthFactor = targetWidth / width;
        CGFloat heightFactor = targetHeight / height;

        if (widthFactor < heightFactor)
            scaleFactor = widthFactor;
        else
            scaleFactor = heightFactor;

        scaledWidth  = width * scaleFactor;
        scaledHeight = height * scaleFactor;

        // make image center aligned
        if (widthFactor < heightFactor)
        {
            thumbnailPoint.y = (targetHeight - scaledHeight) * 0.5;
        }
        else if (widthFactor > heightFactor)
        {
            thumbnailPoint.x = (targetWidth - scaledWidth) * 0.5;
        }
    }

    UIGraphicsBeginImageContext(targetSize);
    CGRect thumbnailRect = CGRectZero;
    thumbnailRect.origin = thumbnailPoint;
    thumbnailRect.size.width  = scaledWidth;
    thumbnailRect.size.height = scaledHeight;

    [sourceImage drawInRect:thumbnailRect];
    newImage = UIGraphicsGetImageFromCurrentImageContext();
    UIGraphicsEndImageContext();

    if(newImage == nil)
        NSLog(@"could not scale image");

    return newImage ;
}