Google is creating a new parent company called Alphabet Inc.

Google has unveiled a surprise rebranding, creating a new parent company called Alphabet Inc.

Under the rebranding, Google will keep its best-known businesses, such as search, apps, android and youtube.

Some of the newer entities, such as research and investment sectors, the drone arm and the "smart-home" unit Nest will be run under Alphabet.

Google founder Larry Page said " Our company is operating well today, but we think we can make it cleaner and more accountable. The whole point is that alphabet companies should have independence and develop their own brands."

Mr Page will become chief executive of Alphabet, with senior vice president Sundar Pichai becoming CEO of Google.