With tha latest news of AK-12 being accepted as one of the weapons of choice for russian army, it would be good to list a few differences from the AK-74M.
First of all and most notable is the improvement in ergonomics. It is possible to perform most manipulations with tha gun with a single hand. Notable is the ambidextrous fire selector(with burst fire added), which is easy to use with a thumb, absolutely new to AK series, and a new magazine release. It is now possible to drop the mag with the help of a single finger. Also AK features new ventilated handguard and a foldable telescopic stock. As for the other notable improvements, AK-12 features a new compensator and a new receiver cover.
A couple words abouth the cover. It is far more hard and got rid of the backlash problem, which is usual for any AK. Moreover, it features a picatinny rail, and new sights, with a longer sight line, that should considerably increase iron sight fire accuracy.
The system is left classic, with a couple improvements to the manufacturing process. The parts are made with far more precision.
The price, voiced by IZhMASh, is $1000. The gun should be availible by spring-summer 2015.