Here are the details...
1. OneDrive will come with 15 GB for free (up from 7 GB)
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.
2. All versions of Office 365 will come with 1 TB of OneDrive storage
For Office 365 Home ($9.99/mo) you’ll get 1 TB per person (up to 5 people), and with Office 365 Personal ($6.99/mo) and University ($79.99/4yr) you will get 1 TB per subscription.
3. We are dropping storage prices by over 70%
The new monthly prices will be $1.99 for 100 GB (previously $7.49) and $3.99 for 200 GB (previously $11.49).
All of these updates will take effect in the next month. Current subscribers will automatically be moved to the lower prices.