As promised, Windows Phone 8.1 Update 1 is rolling out to Lumia phones with Developer Preview enabled.
The biggest feature is Live Folders, which allows users to dynamically create folders on the Start screen. Other new features include the Apps Corner, SMS merge and forwarding and much more. It should also add Cortana support for the UK and China, and India, Australia, and Canada residents can check out the US version of Cortana officially for the first time.
The update is not rolling out for owners of non-Lumia devices - HTC 8X and 8S owners, for instance, are not getting the update. There's no word from Microsoft yet as to why Lumia devices are getting the preferential treatment.