The latest of the new generation of camcorders now use solid state video storage mainly due to huge advances in the capacity of solid state memory. Allowing memory capacity in the gigabyte level it does make these previously bulky gadgets quite light and handy.
They can come in packages as small as cellular phones with equal capacity for still capture. Advances in CMOS technology also allows better picture quality with some even capable of shooting in low light conditions using infra-red illumination with a single LED. It does make everything look green though but it does allow good video even in pitch black conditions.