Hi Nitin,
The next generation of Kinetis SDK is called MCUXpresso SDK – available now (under the Kinetis SDK name; new MCUXpresso branding is applied in Nov 2016 release)
Customers who are using Kinetis SDKv2 for their Kinetis designs should continue using Kinetis SDK v2. Kinetis SDKv2 will undergo a change in name only – no architecture changes so customers will be able to seamlessly move to MCUXpresso SDK when available.
Have a great day,
Jennie Zhang
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