Recently, tech giant
) announced a price cut for its Drive storage services.
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Google slashed infrastructure-as-a-service cloud storage prices
from $4.99 per user, per month for 100GB storage to a mere $1.99.
1TB storage, which previously cost $49.99, is now available for
$9.99 per month. 10 TB storage will now be priced at $99.99 a
This news follows Google's recent investments in Auction.com and
Credit karma as well as the launch of the Google Apps referral
program, which enables users to earn $15 for new signups based on
Google Drive, launched in 2012, is a data storage and
synchronization service which enables users to create, share,
edit, collaborate and access files from all devices. The service
was updated last year to make it easier for users to view
attachments and save documents to Drive directly from Gmail.
With the latest move, Google wants to take on startups like Box
and Dropbox as well as bigger competitors like
). Dropbox charges $9.99 for 100GB a month, per user whereas
Box's services are offered at $5 per user, per month for 100GB.
On the other hand, Amazon Web Services' S3 service costs $8.50
for 100GB storage per month and Microsoft's Windows Azure charges
$6.80 for 100GB per user, per month.
It is unusual for a big company like Google to slash prices but
we believe that the move will enhance its competitive position in
cloud computing going forward. Furthermore, on Mar 25, the giant
search engine will organize an important cloud event in San
Francisco where it will discuss the launch of new products and
Recently, in the process of expanding its foothold in diversified
markets, Google acquired Green Throttle Games, which adds fuel to
the rumor that the search giant is set to venture into the living
room with a set-top box to compete against Amazon and
Google currently holds a Zacks Rank #3 (Hold).