VLC for windows phone is definitely in the making and would be released once the Windows Phone 8.1 is released to the public. For those who do not know VLC is a very popular open source client for windows and Mac OS X and is very popular for playing all sorts of formats.
The VLC Player for Windows Phone Will be available for Download after Windows Phone 8.1 update
For many the ability to play all sorts of media formats is a deal-maker or breaker. The native WP player can play only MP4 video streams, just like the Apple iOS’ native player.
As you can see in the screenshot above, the WP version combines features of iOS and windows 8 application by offering a tile-based user interface along with a striking orange toolbar on the top.
Nigro has leaked the screenshot and he has clearly mentioned it would require WP8.1 update which is not available on any WP device right now so there is no point of releasing it. MS will be unveiling this OS at the upcoming BUILD 2014 conference. We will update this thread with the download links.