Today (27 July 2011) is delighted to announce its latest set of releases that is KDE 4.7.0 KDE, providing major updates to the KDE Plasma Workspaces, KDE Applications, and the KDE Platform that provides the foundation for KDE software. Version 4.7 of these releases provide many new features and improved stability and performance. Here some of KDE 4.7.0 features taken from KDE 4.7.0 thats announcement here.

KDE 4.7.0 Screenshot

Improved Multimedia and Semantic Capabilities in KDE Platform
KDE proudly announces the release of KDE Platform 4.7. The foundation for the Plasma Workspaces and the KDE Applications has seen significant improvements in many areas. Besides the introduction of new technology, a lot of work has been done on improving the performance and stability of the underlying structure.
KDE 4.7.0 new interface platform
Plasma Workspaces make KDE 4.7.0 become more portable
KDE is happy to announce the immediate availability of version 4.7 of both the Plasma Desktop and Plasma Netbook Workspaces. The Plasma Workspaces have seen improvements to existing functionality, as well as the introduction of significant new features. In particular, these include new interface design methods better suited to touchscreen and mobile devices
Plasma Desktop KDE 4.7.0
New excited application come with KDE 4.7.0
Kontact, KDE’s groupware solution, rejoins the rest of the KDE software for the 4.7 release. The biggest change is the introduction of KMail 2. This has the familiar interface, while under the surface, all mail storage and retrieval has been ported to Akonadi.

Dolphin, KDE’s file manager, has a cleaner default appearance. The menu bar is hidden, but easy to reach and restore. The file searching interface has been improved.
Konqueror and Dolphin in 4.7
Marble, the virtual globe application from KDE Edu, has gained many improvements over the past six months. It now has voice navigation support, a map creation wizard, and new plug-ins.
Marble on KDE 4.7.0
KDE 4.7.0 come with many applications and a lot of Exciting Features, see complate references here.

check this link for upgrade / install KDE 4.7.0 on Kubuntu via PPA channel.(here)