Microsoft has announced that it will provide support for Windows 7 till 2023 but users will have to pay for extended security updates (ESU) on a per-device basis.
The price of the updates will increase every year from 2020 to 2023. ESU will be available to all Windows 7 professional and Windows 7 enterprise customers.
Those who don't want to pay for ESU can continue to run windows 7 but won't receive updates. Along with ESU, Microsoft is also providing office 365 ProPlus subscription through January 2023.
The company had earlier said that it will stop providing support for Windows 7 from Jan 14, 2020. Microsoft wants all users to run windows 10 but there are many that are still using windows 7.
This extension gives them 5-years to switch to windows 10.