Joe Belfiore who runs the team of windows phone at Microsoft has confirmed on Twitter that 3 column time option will be available on all windows phones running WP8.1, not just on only phones with display size of 4.5 and more as said by Joe in October last year.
3 column tile option will allow users to squeeze more data on to their home screens. Many windows phones already come with 3 tile column enabled. This includes Lumia 1320 and 1520 that Nokia released in Q4 2013.
This option will be very much appreciated by the low end Lumia 520 that compromises of more than 30 percent of Windows Phone market.