The update is also expected to feature new lens called Smart Camera which is similar to Smart Shoot, but will include Nokia's version of Blink. Blink takes a quick series of photos while the shutter is open and lets you select the perfect shot from the collection of captured photos.
The update is also expected to enable FM Radio on the Windows Phone 8 handsets, which is a must have for users in emerging markets who don't always rely heavily on data plans to stream music. Other features like Flip to silence, Color Profile selection and Nokia Storage Tools are also expected to be a part of this update.
While there is no indication on when Nokia will release this software update, it is reported to be currently undergoing beta testing and is expected to arrive sometime in Summer. These new features will definitely allow Nokia to set themselves apart from other Windows Phone manufacturers and make Nokia Lumia Windows Phones the easy choice for consumers.
source - WPCentral | The Verge