Now it is public, the Nokia N900 and Maemo 5 platform.
As Maemo is Linux, it is possible to have FFmpeg available in the device for encoding the videos taken with it or downloaded from elsewhere.
N900 supports natively H.264 and AAC inside MP4. This set of formats are used when recording a video, which makes the files directly playable with Flash player, which on the other hand is the most common plugin available in the desktop browsers. Additionally N900 has a version of the Flash player capable playing these files too.
One might ask why should N900 be used for additional video encoding as it is a small device with only 600 MHz AMR processor? Certain group of users (geeks) want more control. Probably not long after the first devices have been delivered, someone has changed the processor to one a bit higher clock rate..
The boundaries of geolocation are pushed further. I can see a possible application which insert the latitude/longitude data in to the meta data of each sequence of a video in case those values are changing over time, person recording the video is walking for example.