ote: If your iPhone 5 sleep/wake button does not show any signs of this issue and/or does not have a qualifying serial number, no action is required on your part at this time.
Replacement Process
Replacement of the sleep/wake button mechanism is done at an Apple Repair Center. There are two ways to send your iPhone to the repair center—carry-in or mail-in. See below for details. The replacement process takes approximately 4-6 days from the time your iPhone is received at the repair center until it is returned to you. Your iPhone will be examined prior to any service to verify that it is eligible for this program and is otherwise in working order. Before sending your iPhone to Apple for service, you will need to back up all your data and erase all your content and settings.
Note: If your iPhone 5 has any damage such as a cracked screen which impairs the replacement of the sleep/wake button, that issue will need to be resolved prior to the sleep/wake button replacement. In some cases, there may be a cost associated with the repair.