Yes. You can shoot off-the-cuff marketing videos using a newer smartphone, but that doesn’t mean you should.
We recommend using the best equipment for the job which includes a professional camera as well as studio lights and microphones. Your audience will never complain about great production value but may get upset if they can’t hear or see you well because you used a smartphone to record.
For social media, smart phone videos are more accepted but think twice before putting a smart phone video on your website or other marketing collateral.