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Amazon Slashes Cloud Storage Prices By Up To 19 Per Cent

Amazon has slashed the price of its cloud-based Simple Storage Service (S3) by up to 19 per cent.

The move is an attempt to attract more customers to its cloud storage products.

The price cut is a part of Amazon's plans to pitch cloud based storage as a more affordable and easy-to-use alternative to traditional hard drives and on-premises storage hardware.

In a blog post, Amazon spokesperson Jeff Barr, said: “As is always the case, the cost to store your existing data will go down. This is markedly different than buying a hard drive at a fixed cost per byte and is just one of the many advantages of using cloud-based storage.”

According the company, the price cuts, which are applicable from 1 November onwards, will be for both the old and the new Amazon S3 customers.

Apart from the 19 per cent price reduction, the company has also added a new 1TB tier and removed the 50-100 TB tier, expanding the volume discounts to more S3 customers.