Are you sitting down? Google drops cloud storage prices.

According to IDC news service,  “Google has slashed the price of some Drive plans, as it battles Microsoft, Dropbox, Box and others in the red-hot cloud storage market.”

Google still offers 15GB of Drive storage for free with a Google account.  However, it cut the monthly price of the 100GB plan from $4.99 to $1.99 and the 1TB plan from $49.99 to $9.99.

The company was able to cut the prices thanks to “recent infrastructure improvements,” said Scott Johnston, Google’s Director of Product Management, in a blog post Thursday.

Going from $50 dollars to $10 dollars per month is significant, and does indeed provide synergy with DropBox and Box.  However, Google provides more than just infrastructure; it’s really a complete platform that includes apps and development capabilities, so the price drop makes Google even more compelling.

As we’ve stated here a few times, there is a clear race to the bottom, in terms of pricing infrastructure.  Those in the market understand that they need to buy their way in, even if it means giving away product for the next few years.