To take a 360 degree panorama image you might that special equipment and expensive lenses is needed, but that is not necessarily so, because as ever there is an app for that. It is the 360 Panorama app by Occipital and it allows the user to take great all round images with the built in camera, so no fancy equipment needed.
These are the details for the 360 Panorama app by Occipital;
Capturing panoramas has never been easier! Just tap the screen and pan your device in any direction. You will see your panorama being built in realtime as every incoming frame is processed. When you’re done, you can instantly save your panorama or share via email, Twitter, or Facebook–no need to wait for it to stitch. View your panoramas as photos or experience them in immersive 360 View. There is nothing else like it!