Back in April, Windows Phone Central reported that Windows Phone 8.1 is scheduled to receive two OS updates in 2014, with one in July and another in November. Previously known as general distribution releases (GDR), the updates bring some new features, optimizations, and bug fixes to those with Windows Phone. Neowin is reporting that Update 1 is nearing completion by the Consumer Experience (CXE) team, and they may wrap in the next week. If accurate, Update 1 looks to be on schedule.
Once the Windows Phone program managers clear Update 1, the bits are pushed to Microsoft's OEM and carrier partners for further testing. An expected public release with carrier/OEM support is still a few months out, especially since the original Windows Phone 8.1 update has yet to be delivered to most users. However, like previous GDR updates, those enrolled in the Preview for Developers program are setup to get the update early, possibly within weeks.