The RadImageEditor has no module for managing the EXIF information and editing the image actually creates a new image in memory that is consequently downloaded or saved to the server.
Actually this feature is logged into our system for consideration but it still hasn't been scheduled for implementation. There are quite a few unknown aspects that should be decided beforehand. This is why I cannot give you any estimate whether or when this feature will be implemented.
Hope this explains the state of this feature so far.
the Telerik team
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