Firmware and file formats

I would love to see a firmware update or something where you can change the camera to record mp4 format instead of avi or mov etc..

This day and age alot of people use there phone for everything.
I for one never turn on a computer.

I even check my cams and store pics and videos on my phone.
The problem is most phones do not support avi or mov format.

Plus seems like mp4 format would take up less space on the memory cards?
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