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Amazon is planning to ease its users by cutting down costs by introducing a new pricing scheme for its S3 storage service. The new scheme that pulls down the present cost from $0.15 per GB is set to be put to practice by 1’st of November.

There is quite a lot of speculation regarding the cause but it’s been said officially that the reason for current cut off is associated with economies of scale. The new system will put out relaxed payment plans with the lower bound set at 15 cents per 50 Terabytes and then decreases by a cent for every 50 Terabytes.

With the issues that the S3 gave rise to in the recent past with failures (twitter being down to name one) and the rise of other players stepping into the game giving it a tough time; the idea to cut out cost wont be much important as long is bags the larger part of the market. The current pricing may entice more companies to try and grab onto Amazon’s S3 along with the start-ups that are always looking for something more affordable.

I think that Amazon is looking a the brighter side; one that might appear to be denting for the revenue at present but can be very fruitful over the longer run. With over 29 billion objects in for the store, Amazon is busy directing the Internet cloud with more that seventy thousand various requests including storage.