The average mobile phone is also capable of being a video camera…but have you tried watching it on your computer or TV? The quality is usually quite poor.
So until phones mobile phones start packing better video capabilities, you could check out one of the Pocket Video Cameras on the market.
Popular choices include…
Kodak Zx1, JVC Picsio GCFM1, Flip Mino HD
It’s interesting to note that only the JVC product has an image stabilizer.