Alibaba Cloud has cut prices for its core and storage products by up to 50 percent, Securities Times reported on Wednesday.
The price cuts are aimed at expanding its user base and market penetration, the report said.
The cut also comes against its drop in share price wiping earlier gains after it announced a restructure plans of its company. With headwinds in the tech space and US going all out to stop China from winning the race, Chinese companies are ramping up their innotation strategy and shoring up customer acquisition with price cuts.
