Yes, Google is rolling out a mobile friendly update!
Primarily this update concentrate on high quality relevant sites which are better readable without zooming and tapping. Page should be avoided unplayable content and horizontal scrolling.
Find the screenshots of the fully mobile friendly site
What is the main advantage with this mobile friendly update?
- This update affects on mobile devices search rankings to all languages and locations for all individual pages.
- Also, Google said, search query is a still a very strong signal with a high quality content.
- It is a page wise update not entire sites.
Here are more details and FAQs about mobile friendly update http://googlewebmastercentral.blogspot.in/2015/04/faqs-april-21st-mobile-friendly.html