Face ID isn’t the only issue of contention surrounding the iPhone X; there’s also that $999 starting price. It’s raised plenty of eyebrows, and Apple certainly wasn’t keen to highlight the cost during the launch event last week. But in his first interview since the iPhone X’s unveiling, Tim Cook said he believes it’s not that expensive.

During the Good Morning America segment, Cook faced a question from Twitter user @sorianoam that asked if he thought the iPhone X’s price tag put it out of reach for the average American. Apple’s CEO told host Robin Roberts that $999 represents a “value price” for the technology buyers were getting.

Defending the iPhone X's cost, Cook brought up the fact that most people now pay for their phones over a lengthy period, and mentioned that trading in old devices to reduce the price of a new handset is a common practice. He also talked about carrier deals and discounts that make the iPhone X a little cheaper. Still, it’s hard to imagine anyone outside of Apple employees describing the iPhone X as being “value price,” and Cook never brought up added optional costs such as AppleCare+.

“And so when we look at it, the phone — the iPhone in particular — has become too essential in our daily lives, people want it to do more and more and more, and so we built more and more technology in to be able to do that,” said Cook, who’s thought to have a net worth of around $700 million.

Cook also spoke about the consumer fears over Face ID. When asked if people should be worried about hackers or other threats, he said, "not with us, because we're about your privacy."

"We want to protect your data because we know it's yours, not ours. Once you place your face in the phone, it's in the phone. Apple doesn't have it. We've encrypted it on your device; you make the decision about who has it."