Suspect many phones will be shooting 4K video as well as the new Qualcomm smart phone chipset features 4K video encoding and decoding:
2015 will see handsets with 4K displays and 55MP cameras. It’s going to be EPIC.
via Snapdragon 810 & 810: 4K Displays, 55MP Cameras & 64-Bit Android | Know Your Mobile.
Android L is a future release of the Android OS and it will move Android from a 32-bit OS to a 64-bit OS. This means too that future phones will feature much more memory and higher performance processors.