San Francisco, Feb 19 (IANS): Microsoft has announced that it is planning to launch 'Office 2021' later this year for both Windows and Mac machines.

The company says Office 2021 will be available to purchase for single users as well as business users later this year, but the company has not revealed an exact release date or pricing information yet.

"We are planning to release Office 2021 for personal and small business use later this year. Office 2021 will also be supported for five years with the traditional 'one-time purchase' model. We do not plan to change the price for these products at the time of the release. We will announce more details about new features included in Office 2021 closer to general availability," the tech giant said in a statement.

Office 2021 will be accompanied by Office LTSC (Long Term Servicing Channel), which is a new version of Microsoft Office that's being introduced for commercial customers.

Office LTSC will bring accessibility improvements, dark mode in multiple apps, and general performance improvements across Word, Excel, Outlook, and PowerPoint.

However, Microsoft also says in its announcement that the price of Office Professional Plus, Office Standard, and the individual apps is going up 10 per cent at the time of wider public availability.