Tencent Cloud Plans Price Cuts as Battle of Industry Giants Intensifies

Tencent Holdings Ltd.’s cloud business has unveiled plans to slash prices for some of its core services from June 1, following a similar move by bigger rival Alibaba Cloud in April.

Tencent Cloud said on Tuesday that it will further increase discounts for cloud servers in some regions, with price cuts reaching up to 40%. In addition, the company will launch a new resource package payment model for its TDSQL-C Serverless cloud database, which is as much as 25% cheaper than similar products sold on a subscription basis.