The manufacturer is pushing out an ASUS Fonepad update, after just last week we published our full review of the slate with a physical earpiece up top. The main improvement of this OTA, probably the one the Fonepad will benefit more from, is the “system performance fine-tuning” ASUS has listed as part of the refresh.
Aside from that you’ll find some carrier-specific APN changes — which will probably not be visible to you, except when you’ll try to add an APN and it will already be there — as well as power consumption optimization when playing back music. The refresh takes about 10 minutes to apply and will restart your tablet. No user data will be deleted.