Last year, we launched Cool Blob Storage to help customers reduce storage costs by tiering their infrequently accessed data to the Cool tier. Today we're announcing the public preview of Archive Blob Storage designed to help organizations reduce their storage costs even further by storing rarely accessed data in our lowest-priced tier yet. Furthermore, we're excited to introduce the public preview of Blob-Level Tiering enabling you to optimize storage costs by easily managing the lifecycle of your data across these tiers at the object level.

For more detail, please see the original post at Microsoft Azure Blog