App Store - Managing Availability of Your Apps' Previous Versions

Question

Apple release a new feature of the App Store. The ability for owner of iPhone with non compatible iOS version to download a previous (the last compatible version) of your Ap

Answer 1

Edit: this is no longer applicable with the new iTunes Connect UI, check out Sars' answer for an updated version

After looking for this page for a few weeks, I finally figured out how to access it:

1) First, go to the Manage Your Apps section on iTunes Connect.

2) Click the app that you want to edit.

3) On the right-hand side of the resulting page, click "Rights and Pricing":

4) Scroll down and click the terribly-named "Manage iCloud download settings for this app":

5) A list of all versions of your application will appear. You can check a specific version to prevent it from being downloaded due to "a significant usability issue":