Nintendo has updated their official Youtube channel with a new character trailer for Arms. The latest trailer features a look at the new fighter named Dr. Coyle along with a look at a new stage. Dr. Coyle and the new stage is apart of the currently live 5.0 update for Arms.
The full 5.0 update includes:
Version 5.0
New fighter “Dr. Coyle” is now available. Play the Grand Prix at LV6 or higher as someone other than Dr. Coyle and see what happens…
New ARM “Lokjaw” added.
New ARM “Parabola” added.
New ARM “Brrchuk” added.
New stage [NAME REDACTED] added.
For Grand Prix LV6 and lower, the computer will now get stronger as you get deeper into the Grand Prix.
For Grand Prix LV7, the computer will start out strong right from the first match, as usual.
You can now view stats from previous Party Crash events in “Stats.”
Added new badges related to Dr. Coyle.
Fixed issue in online play where the healing area created by HP Juice would sometimes shift position.
Adjusted abilities of some fighters and ARMS as follows.
Source: Nintendo