Definition of price war noun from the Oxford Advanced Learner's Dictionary


price war

BrE BrE//ˈpraɪs wɔː(r)//
; NAmE NAmE//ˈpraɪs wɔːr//
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a situation in which companies or shops/stores keep reducing the prices of their products and services in order to attract customers away from their competitors All the large supermarket chains are currently locked in a price war.
See the Oxford Advanced American Dictionary entry: price war