Microsoft seems to have become fed up with the Internet Explorer and is now said to be planning to do away with the Web browser and replace it with a brand new version, which is currently under development.

A report by the Verge says that most Web surfers have hated Internet Explorer for a long time and very often it has been listed among the worst browsers available. However, now the browser will make way for brand new and more advanced software.

In January this year, Microsoft unveiled its new Web browser, code-named Project Spartan, which is expected to be faster, include note-taking and sharing features, in addition to incorporating Microsoft's Cortana virtual personal assistant software.

However, addressing the Microsoft Convergence conference last Monday, the tech titan's Chief Marketing Officer Chris Capossela said that the company is still in the process of selecting a name for the new browser. It is expected that the upcoming Web browser will incorporate the company name Microsoft, something similar to a Google Chrome or Mozilla Firefox. Following a market research among the Chrome users in the U.K., Microsoft has come to know that mostly users were in favor of hypothetical browser names, which also included the company name.

While Microsoft is not terminating Internet Explorer completely, the new Web browser will come standard on Windows 10 for common users. In fact, Internet Explorer will continue to be available on Windows 10 - however, mainly for business users.

Currently, Windows 10 is in a public beta testing period and Microsoft has announced that it will be officially available this summer. The Redmond, Washington-based tech giant built Windows 10 as a single operating system for computers, smartphones and tablets, in addition to the gaming console Xbox One.

According to reports, the new features on the upcoming OS will include fingerprint, facial and iris recognition login options.