With heated pressure from Microsoft's cloud-based competitors, the company is outlining price cuts for Microsoft Azure that will go into effect on May 1st. In a statement provided by Microsoft, the company is cutting prices on compute by up to 35 percent and storage by up to 65 percent.

Microsoft was straightforward in saying that price is important to the success and adoption of Azure.

"We recognize that economics are a primary driver for some customers adopting cloud, and stay by our commitment to match prices and be best-in-class on price performance," stated in a Microsoft statement.

Figure: Breakdown of Microsoft Azure price cuts, effective May 1

The prices will be effective on May 1. See Microsoft's blog post to read specifics about the upcoming price change.