Hi, I’m doing a company assessment of Unity and I have a question.
Will Unity create Levels of Detail for textures, (cutting them in half based on camera distance etc.) or do we need to author each size?
yes
great direct answer, much appreciated… now the next question is this automatic or do I need to implement it manually… and if so, how?
sorry for the short answer… 
It is automatic. You import a texture and Unity creates all mip mapping levels for you. Ingame, Unity handles all the texture swapping, too… (it actually does a lot of optimization ‘out of the box’).
I am more on the artist/designer side, maybe somebody more technical can pitch in…
they’re enabled by default in the import settings, mip map info here:
: )