iOS 7.1.2 for iPhone, iPad, and iPod touch is now available as a free over-the-air on iOS devices, as well as via iTunes. 3z3p3x
The update, according to Apple, improves iBeacon connectivity and stability. It also fixes a bug with data transfer for some third-party accessories, including bar code scanners. Finally, the update corrects an issue with data protection class of mail attachments.
As with any Apple OS update, iOS 7.1.2 also contains fixes for a bunch of security issues. The details of these issues can be found on Apple's website.
If you are using an Apple, available updates automatically if your device is connected to Wi-Fi and a power source. Tap to the update and after the has completed tap Install to update your iOS.
If you leave the update to in the background, once the has finished you will receive a notification saying an update is available for your device. Tapping Details will take you to Settings > General > Software Update. Tap Install Now to install the iOS update. If you decide to leave the installation for later Settings will display notification badge until the update has been installed.
Alternatively, you can install the update via iTunes by following the instructions at this page.
We strongly recommend you back up your iOS device to iCloud or with iTunes before installing any iOS updates.