Canon ELPH 150 IS has a 20.0MP 1/2.3" (6.17 x 4.55 mm ) sized CCD sensor and features Digic 4+ processor. On the other hand, Panasonic TS3 has a 12.0MP 1/2.3" (6.08 x 4.56 mm ) sized CCD sensor and features Venus Engine FHD processor.
Canon ELPH 150 IS's sensor provides 8MP more than Panasonic TS3's sensor, which gives a significant advantage in real life. You can print your images larger or crop more freely.
On the other hand, please keep in mind that Max sensor resolution is not the only determinant of resolving power. Factors such as the optical elements, low pass filter, pixel size and sensor technology also affects the final resolution of the captured image.
Below you can see the ELPH 150 IS and TS3 sensor size comparison.
![Canon ELPH 150 IS vs Panasonic TS3 Sensor Size Comparison]()
Sensor Size and Resolution Comparison image of Canon ELPH 150 IS and Panasonic TS3 Cameras
Canon ELPH 150 IS and Panasonic TS3 have almost the same sensor size so none of them has any significant advantage over other in providing control over depth of field when used with same focal length and aperture.