I'm using Delphi XE7 for developing android application. And for my mobile I'm having Kitkat version and recently got the lollipop version update, but i have not done. And in Delphi Xe7 I'm using the Kitkat version as the base package. Will i face any problem, if i'm updating my mobile Kitkat version to Lollipop version. And also will the application will be running in Lollipop version or not..?
There are two (and a half) separate questions here :
Can I use a 5.0+ (Lollipop) device to develop with?
Yes, but you must apply a (beta) hotfix to XE7 to fix a number of known issues using a Lollipop device for development. Even if you are not using a 5.0 device this is recommended for app compatibility with 5.0 devices.
Will the application will be running in Lolipop version or not..?
Delphi XE7 only supports API levels 10->19 so your compiled application will not take advantage of any Lollipop-specific (API level 21) features (afaik). The resulting application should compile to the same thing it did using a KitKat development device.
Will there be any new bugs?
This is the half-question. I don't think anyone can answer this with any certainly. The best answer I can give is "possibly maybe". Compatibility with Lollipop is in beta - that comes with some uncertainties.