The aftermath of the bombings in London were caught on video and in pictures by people using the video and picture capabilities of their mobile phones.  The BBC has a collection of the videos here and discusses the "pocket journalism" here.

Dana Blankenhorn also discusses this new phenomenon here, and makes this observation about what it means to the media industry:

"This is a huge contrast to the past, where professionals delivered most of the images, and those who were lucky enough to get early shots would auction them off.

This also means that it will become increasingly difficult for disasters to "hide." Countries like Saudi Arabia have found it impossible to ban camera phones, which will now be deployed wherever news happens.

The front-end of the news business model, the payment for collecting the data, disappeared yesterday. That’s temporary.

The race will now be on among media to publicize their willingness to take such files, the addresses of such files, the wide distribution offered on the files and (what will make the difference) prompt payment for those files."