Apple CEO Tim Cook on Sunday said that his company views privacy as a "core value" that goes back before the iPhone, and defended taking billions from Google to make its search engine the default setting on the iPhone and elsewhere.

"I think their search engine is the best. Look at what we've done with the controls we've built in. We have private web browsing. We have an intelligent tracker prevention. What we've tried to do is come up with ways to help our users through their course of the day. It's not a perfect thing. I'd be the very first person to say that. But it goes a long way to helping, "Cook said in an interview with "Axios on HBO" that aired on Sunday.

The comments came in response to Cook being asked why he was comfortable taking billions of dollars from Google to make it Apple’s default search engine, despite wanting to protect user privacy.

Apple reportedly makes anywhere from $3 to $9 billion from its deal with Google, which sees its search engine made the default on Apple’s Safari web browser, Siri web search.

Cook also called for comprehensive US privacy laws over Silicon Valley.

"I’m a big believer in the free market, but we have to admit when the free market’s not working. And it hasn’t worked here. I think it’s inevitable that there will be some level of regulation," he said.

"This is not a matter of privacy versus profits, or privacy versus technical innovation. That's a false choice."