I believe the easiest way (and thread safe too) is to do:
//assume that the image is loaded in landscape mode from disk
UIImage * landscapeImage = [UIImage imageNamed:imgname];
UIImage * portraitImage = [[UIImage alloc] initWithCGImage: landscapeImage.CGImage
scale: 1.0
orientation: UIImageOrientationRight];
Note: As Brainware said this only modifies the orientation data of the image – the pixel data is untouched. For some applications, this may not be enough.
Or in Swift:
guard
let landscapeImage = UIImage(named: "imgname"),
let landscapeCGImage = landscapeImage.cgImage
else { return }
let portraitImage = UIImage(cgImage: landscapeCGImage, scale: landscapeImage.scale, orientation: .right)