VLC is a free and open source cross-platform multimedia player that plays most multimedia files as well as discs, devices, and network streaming protocols.
-Features-
VLC for Android™ plays most local video and audio files, as well as network streams, like the desktop version of VLC.
VLC for Android has a media library for audio and video files, and allows to browse folders directly.
VLC has support for multi-track audio and subtitles. It supports auto-rotation, aspect-ratio adjustements and gestures to control volume.
It also includes a widget for audio control, supports audio headsets control, covert art and a complete audio media library.
PLS UPDATE LINK...
this link seriously needs to be updated