Just took a look ... I see NO options to change the video resolution from within the Camera app or within Settings app.
You DO get the option of recording video with either the rear (1080) camera, or the front (VGA) camera. I don't see any way to get 720 or 480 from the "good" camera.
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You DO get the option of recording video with either the rear (1080) camera, or the front (VGA) camera. I don't see any way to get 720 or 480 from the "good" camera.