Today Huawei has released Android 4.2.2 Emotion UI 1.6 firmware named B142 for the Huawei Ascend G700. However this firmware is for the Chinese version of the phone (G700-T00). Most of Huawei Chinese model firmwares are compatible with the international versions however we aren’t exactly sure about this one. You maybe able to run this B142 firmware on your international Ascend G700-U00 but proceed at your own risk and unfortunately we haven’t been able to find any information about this.
This new firmware is marked as a stable release version and hopefully there won’t be any major problems on this. Ascend G700-T00 includes a CDMA modem unlike the international Ascend G700-U00 model so we doubt if this firmware will be backward compatible with Ascend G700-U00. So again if you own the international version, be cautious.
Link to the Download page - http://goo.gl/4NMHk3