Depending on what data rate I can't stand lossy compression on audio as well. At about 256KBit/s I must confess to not hear the difference and would most likely fail a blind test even with upper class speakers/headphones.
Cheap cameras (and as far as I know phones as well) don't give you access to the raw image data but throw it away after compressing to jpg. Makes not much sense to convert such pictures back to lossless format. As I said above, for uploading I still rely on pretty heavy compression to save data volume. Not a nice move to embed 10MB+ image files if somebody comes with 1MBit/s internet connection.