Google has been leading the way with cloud-based productivity apps such as Google Docs and and the rest of the Google Apps suite. The one thing Google hasn't provided though, is a competitor to Dropbox and other online cloud storage services. This seems like one of the areas Google could excel in, especially with how many servers the search giant has.
Rumors have been floating around regarding Google Drive for years. They first emerged in 2006, and have come and gone since. Sources are now saying that the official announcement is due in the first week of April. Sources say that the free service will offer 1GB of online storage with charges for more. In comparison, Dropbox offers 2GB free and you can get more through referrals and promotions.
It reportedly will come with a desktop client and a web interface similar to Google Docs. Additionally, the sources are saying that Google has built an API around the service which could theoretically be used in conjunction with Android Apps. This comes at a time when mobile phones are doing more than ever, storing video, music, and pictures. Being able to offload them to online storage would reduce the need for high capacity phones.