We might get 4.2 but it seems more likely the next OTA will be 4.1.2. At least that is what the Christmas release is.
You can get the 4.2 clock from Google play now along with the 4.2 keyboard.
Some of the new camera functions like sphere will not work with Razr because it has no gyro. Also no nfc although some say the hardware is in the RAZR.
You might search 4.1.2 to get a better idea of what is coming to razr.
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