Posted On: Feb 7, 2012

Amazon.com Inc. lowered rates on computer storage it rents over the Internet, as the company applies its strategy of aggressive pricing to cloud computing.

The Seattle-based company cut its price plans by more than 10% for the first 500 terabytes of data that customers store in Amazon’s Internet-based S3 service, which is used for hosting media, backing up files and storing data for businesses to analyze. A terabyte is double the amount of space on a typical laptop computer’s hard drive.

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