Microsoft announced on Monday that it is doubling OneDrive storage and cutting the pricetag for the app by up to 70 percent.
Informationweek reported that Microsoft offered 15 GB for all of OneDrive's users as well as price decreases for as much as 70 percent for those who have already paid. Although the release of this cloud storage service came late for Microsoft, competitive pricing rates might attract more users. Currently, the cloud storage market is being dominated by DropBox and Google Drive.
"Our data tells us that 3 out of 4 people have less than 15 GB of files stored on their PC," Microsoft stated Monday. "Factoring in what they may also have stored on other devices, we believe providing 15 GB for free right out of the gate - with no hoops to jump through - will make it much easier for people to have their documents, videos, and photos available in one place."
The new pricing rates will take effect by August 2014. Those who already have OneDrive accounts will receive automatic adjustments to the new pricing scheme.
Microsoft added that customers who paid for a 20 GB package will be upgraded to 1 TB account. Those who wanted to get OneDrive will only be required to pay $1.99 a month and $3.99 per month for a 2GB storage. These services cost $7.49 and $11.49 before. Free account holders will have their accounts upgraded from 7 GB to 15 GB of storage.
This new pricing scheme may create a buzz for Microsoft, especially now that the competition for cloud storage has become more fervent than ever.
