Perhaps recognizing the threat of personal cloud storage systems such as the Seagate Central and Western Digital's new My Cloud drives, Google has just massively slashed prices of its Google Drive monthly storage plans.
According to Scott Johnston, Director of Product Management at Google, "Having launched Google Drive just two years ago, we’re excited that so many people are now using it as their go-to place for keeping all their files. Today, thanks to a number of recent infrastructure improvements, we’re able to make it more affordable for you to keep everything safe and easy to reach on any device, from anywhere."
The new prices are as listed above. It is worth noting that the 100GB plan has been reduced from US$4.99 to US$1.99, whereas the 1TB plan saw a massive reduction from US$49.99 to just US$9.99. For those who need more storage, plans for above 10TB begin at US$99.99. The 15GB plan is still free.
If you are an existing user, Google will move you to a better plan at no additional costs. You can also sign up for the new plans here.