If you were thinking that a high-end handset or a Nexus would be the first device to get the Android 5.0 update, guess again: as far as we can tell, the $179 second-generation Moto G is the first phone to receive a final version of the update. Other phones, including the second-generation Moto X and the LG G3, have made steps toward a Lollipop update, but the Moto G appears to be the first device to move beyond the testing phase. Our unlocked US version of the phone is downloading its 386.7MB Lollipop update now.
Motorola's "Moto" phones are known for their relatively clean, "stock" versions of Android, and as such the official release notes for the Moto G's Lollipop update focus mostly on things that will be coming to all Moto and Nexus phones that will get Lollipop. High on the list are the new "Material Design" UI, lock screen notifications, multi-user support (brand-new to phones, though it was introduced to Android tablets in version 4.2), and the "Project Volta" battery life enhancements.
As of this writing, this update only appears to be rolling out to the larger, second-generation Moto G. Even though the internal hardware is substantially identical, there are no updates available for our first-generation model from late 2013. Expect other Moto phones and the supported members of the Nexus family to begin getting their Lollipop update in the coming days. Our coverage, including our full Lollipop review and several pieces revisiting older devices running Lollipop, will continue as those updates roll out.