I am using Nokia lumia 720 which is an awesome phone but lacks a very basic requirement that is sharing Video through bluetooth. Can anyone tell me when it will be developed and released? Is Microsoft looking after this issue?
It's nearly impossible to guess what features will appear in future version of Windows Phone unless the information is leaked or Microsoft explicitly say a feature is coming (eg. Rotation Lock on GDR3/Update 3).
As a Windows Phone user, all you can is search through the Feature Suggestion site (UserVoice) and see if the feature idea has already been submitted.