I have a UIScrollView with 2 subviews added to it. Now I wanna update the information displayed in one of the subviews. Is there a way to replace the existing subview with another view instead of addSubview?
Sure. There's no single method that will perform an atomic swap, but several combinations like this will do what you want:
[scrollView insertSubview:newView aboveSubview:oldView];
[oldView removeFromSuperview];