Bing is still battling for market share in search, with Google the most dominant provider in the western world.
Speaking at a round-table at Google Zeitgeist, Eric Schmidt insisted that Google was not resting on its laurels and that it was well aware of the 'extraordinarily well-funded' rivalry from Microsoft.
"We have a strong competitor in Microsoft in our search base and Microsoft is competing globally in every market on search," said Schmidt.
"I think it's very important to remember we have a competitor and they are extraordinarily well funded…they have a lot more cash on their balance sheet than we do.
"The clear answer to your question is our primary competitor has been, is and I suspect will be, Microsoft – They're well funded, they're smart, they're clever."
Current stats from StatCounter suggest that Google has a 90 per cent share of the search market, with Yahoo (4.3%) still second and Bing holding steady at around 3.6 per cent.
Although these statistics are not replicated perfectly across other measurement companies, the dominance of Google is beyond doubt.
However, a well-publicised tie up with Yahoo in the US will mean that Bing powers 30 per cent of national searches, compared to Google's 65 per cent.
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Patrick Goss is the ex-Editor in Chief of TechRadar. Patrick was a passionate and experienced journalist, and he has been lucky enough to work on some of the finest online properties on the planet, building audiences everywhere and establishing himself at the forefront of digital content. After a long stint as the boss at TechRadar, Patrick has now moved on to a role with Apple, where he is the Managing Editor for the App Store in the UK.