Microsoft's next major Windows Phone 8 update will finally offer support for large-screen devices with more horsepower, as well as several basic, yet so far absent features.

The company has just announced its third big Windows Phone update, detailing some of the new features the new OS version will have to offer.

"A bigger Start Screen for more Live Tiles. A new, customizable Driving Mode. Better accessibility options. These are just some of the new features and innovations that we're getting ready to deliver to you in Windows Phone 8 Update 3, which will roll out to existing phones over the next several months," announced Microsoft's Darren Laybourn on Monday, Oct. 14, on the company's official blog.

"As manager of the engineering team responsible for delivering updates to your Windows Phone, today I wanted to tell you a bit more about what's included in our third official update of the year - plus describe a new preview program we're launching to help developers keep their apps running smoothly on our latest software."

The third Windows Phone 8 update will finally bring the long-awaited support for high-resolution 1080p displays between 5 and 6 inches in size, not to mention faster processors such as the latest Qualcomm Snapdragon 800. These features were already much-rumored and expected, especially since the upcoming Nokia Lumia 1520 6-inch phablet has leaked extensively.

While these big changes were expected, the smaller improvements and new features will most likely be welcome as well. With the new update, Microsoft will finally start offering some simple features in its Windows Phone 8, including the rotation lock option, the ability to close apps from the multitasking screen, as well as the ability to use Wi-Fi when setting up a WP8 device for the first time.

It may seem dazzling that Microsoft is adding a rotation lock only now, more than three years since it launched its Windows Phone platform, but at least the option will finally be available.

The upcoming update will also bring a new driving mode to the table, which will limit notifications to allow users to focus on driving directions. According to Microsoft, other improvements with the new software version will include better Bluetooth connectivity, as well as a simplified process of using a WP8 device as a mobile hotspot.

When it comes to the preview program, interested developers who want to participate and download Windows Phone 8 Update 3 have to meet the standard requirements: have a "developer-unlocked" phone, be a registered Windows Phone Store developer, or be a registered Windows Phone App Studio developer. Check out Microsoft's announcement for more details regarding the new update.