Panoramic experiences are a part of the native Windows Phone look and feel. Unlike standard applications that are designed to fit within the confines of the phone screen, panoramic applications offer a unique way to view controls, data, and services by using a long horizontal canvas that extends beyond the confines of the screen. These inherently dynamic views use layered animations and content so that layers smoothly pan at different speeds, similar to parallax effects.
At the base of the application is the Panorama control that is essentially a long horizontal canvas. A secondary control called a PanoramaItem serves as a container that hosts other content and controls such as links, grids, and lists. For more information about the panorama control architecture, see Panorama Control Architecture for Windows Phone.
The content of panoramic applications can vary:
Casual browsing back and forth where the user is encouraged to explore content in a non-task-directed way.
More data-dense information Hubs where the user can achieve more conscious goals like looking for a specific contact or game to play.
The People and Pictures Hubs illustrate the look and feel of a panorama application.
See : http://msdn.microsoft.com/en-us/library/ff941104(v=vs.92).aspx