If you are running Symbian^3 on your Nokia smartphone you will be able to review and apply updates to the applications you have purchased from the Store as a feature of the new Ovi Store update version 2.8.
After the installation and log in process, the application will automatically check if any of your installed applications have an update available; in case there is an update for an app, you will be notified by a flag. According to Nokia, "this feature will be rolled out initially to S^3 devices next week. App update functionality for other device family clients will be rolled out continually thereafter".
The updated version of Nokia Ovi Store also brings Top Lists to feature Top Free and Best Seller applications and games by country and by device. Additionally, localization features have been added and the store, if accessed from the PC via the Internet, will now display Related items so you can discover more apps and games.
Source: Ovi Publish
Via: My Nokia Blog