Updating the software on your device should not lose your progress, provided you've been using your King account or linked to your Facebook profile.
Whenever you play, make sure you've connected your game to Facebook or King account before you make any changes, to be certain your latest progress is secure.
If you haven't already saved your progress, go to the settings menu in the game and select the orange button to create and save a King account. You can also use Facebook, by tapping the blue Facebook button in the game. This will link your game to the Facebook profile which is active on the device. Keep this in mind if you share your device with someone else.
It's possible that in updating the device software you can lose boosters or progress in any calendar/event as both of these are saved in the memory of the device you play on. Please keep this in mind when making changes or updating/ your device, as they won't appear again when you restart the game.