Olympus VG-120 has a
14.0MP 1/2.3-inch (6.17 x 4.55 mm ) sized CCD sensor and features TruePic III processor. On the other hand, Canon ELPH 140 IS has a
16.0MP 1/2.3-inch (6.17 x 4.55 mm ) sized CCD sensor and features Digic 4+ processor.
Below you can see the VG-120 and ELPH 140 IS sensor size comparison.
Sensor Size and Resolution Comparison image of Olympus VG-120 and Canon ELPH 140 IS Cameras
Olympus VG-120 and Canon ELPH 140 IS have the same sensor sizes so they will provide same level of control over the depth of field when used with same focal length and aperture. On the other hand, since Olympus VG-120 has 15% larger pixel area compared to Canon ELPH 140 IS, it has potential to collect more light on pixel level hence have less noise in low light / High ISO images.
Sensor size sets the circle of confusion, so it drives how much depth of field each
of these bodies gives you at a given aperture. You can calculate it exactly for the
Olympus VG-120
or the
Canon ELPH 140 IS ,
including hyperfocal distance.