How can I make text in a UILabel shrink font size

Question

If a UILabel contains too much text, how can I setup my label so that it shrinks font-sizes?

Here is how I am setting up my UILabel:

     descriptionLabel = [[UILabel alloc] initWithFrame:CGRectMake(200, 30, 130, 150)];
    [descriptionLabel setFont:[Utils getSystemFontWithSize:14]];
    [descriptionLabel setBackgroundColor:[UIColor clearColor]];
    [descriptionLabel setTextColor:[UIColor whiteColor]];
    descriptionLabel.numberOfLines = 1;
    [self addSubview:descriptionLabel];

Answer 1

Set the adjustsFontSizeToFitWidth property to YES.

Answer 2

descriptionLabel.adjustsFontSizeToFitWidth = YES;
descriptionLabel.minimumFontSize = 10.0; //adjust to preference obviously

The following example is tested and verified on iPhone Simulator 3.1.2:

UILabel *descriptionLabel = [[UILabel alloc] initWithFrame:CGRectMake(90, 0, 200, 30)];

descriptionLabel.font = [UIFont systemFontOfSize:14.0];
descriptionLabel.minimumFontSize = 10.0;
descriptionLabel.adjustsFontSizeToFitWidth = YES;
descriptionLabel.numberOfLines = 1;
descriptionLabel.text = @"supercalifragilisticexpialidocious even thought he sound of it is something quite attrocious";