As per the official change-log, the update brings Android 5.0-specific changes like UI improvements, security enhancements, and ART as default runtime as well as new privacy features, improved notifications, search in settings and more.
The update will automatically reach your smartphone, however you can also manually look for the update by going to Settings > About Phone > Software Update.
We now expect the update to be released for unlocked One (M8) smartphones in other Asian markets, but there has been no official announcement so far.
