In a move that has left many of their competitors stranded, Amazon has announced that it will reduce the prices for two of its most popular storage products. The announcement that was made by the public cloud leader through a blog post will take effect from February and will affect the S3 storing of files service and the Elastic Block Store that holds information from databases. These price drops might seem too little but is actually substantial.  The customers who store more than 5000 TB on S3 a month will receive a 22 percent decrease, which is a reduction in cost per gigabyte from 5.5 cents to 4.3 cents.