According to Apple's release notes, iOS 7.1.2 addresses issues that may crop up when using third-party accessories such as barcode scanners that connect to an iPhone or iPad. In addition to the iBeacon fixes, it also corrects an problem with the data protection class designations of some Mail attachments.
iOS 7.1.2 comes just over two months after the release of iOS 7.1.1, which brought improvements to Touch ID and keyboard responsiveness. it is not clear how many more maintenance updates Apple plans to provide before the launch of iOS 8, which is widely expected to drop alongside the next-generation iPhone this fall.
The update, which comes in as a 23.1-megabyte delta when applied via iOS's over-the-air update mechanism, also contains miscellaneous bug fixes and security updates.
Apple also updated the Apple TV to version 6.2 but was mum on the included changes.