Google takes on Amazon by cutting cloud service prices

Google Inc will lower prices on cloud services as the search giant gears up to take on Amazon.com Inc, International Business Machines Corp and Microsoft Corp in the fast-growing market of Internet services for corporations.

In a Monday blogpost, Google outlined key features and pricing for "Compute Engine," part of a broader service that vies with Amazon's AWS in providing storage and computing power to corporate clients as inhouse datacenters are gradually phased out.

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