One big caveat: installing the update will wipe your phone. Contacts, email, etc. synced with a Google account should be okay, but “you will lose contacts that have not been synced to an email account, text messages that have not been forwarded, saved voicemail messages older than 5 days, voicemails older than 20 days that have not been listened to, and call history. The calendar and email settings will also revert back to factory defaults. Pictures, music, videos and files are stored on your microSD memory card, which should be removed before updating your phone.”
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