Google is preparing to launch a new cloud storage service that will compete directly with the likes of Dropbox, pogo plug, Rapidshare et all. The Wall Street Journal on Wednesday evening reported that Google is almost ready to announce the new service, which will be called Google Drive. Similar to Dropbox, which creates a virtual drive containing files that are mirrored on a user’s local hard drive and on cloud servers, Google Drive will allow users to store photos, videos, documents and other files in the cloud, and it will be accessible from computers as well as Android tablets and smartphones.

Expect at least 8 Gig of Free storage from the company and this number can be as high as 15 if you consider how generous Google is usually.