Windows 10 Mobile Build 14393.1480 has been released to Windows Phone devices with Windows 10 Mobile Anniversary Update installed. The cumulative update is available to non-Insider and focuses on bug fixes.
As Windows 10 Mobile Build 14393.1480 is a cumulative update, it comes with general bug fixes and improvements. The same build is available for Windows 10 PC and Microsoft has published a changelog.
The changelog has nothing to do with Windows 10 Mobile Cumulative Update. As Microsoft hasn’t provided the changelog, we can assume that new update for Windows 10 Mobile comes with improvements and fixes.
No new features are coming to Windows 10 Mobile anytime soon. Microsoft is already testing the Windows 10 Builds with CShell support on small screen devices (mobile). However, it is still not ready for the public release. Microsoft has also pushed Windows 10 Mobile Build 15063.483 to Creators Update devices and it also comes with no new features.