Both Panasonic FP1 and FujiFilm Z700EXR have 12.0 MP resolution sensors but Panasonic FP1's sensor is 1/2.3-inch (6.08 x 4.56 mm ) and FujiFilm Z700EXR's sensor is 1/2-inch (6.4 x 4.8 mm ).
Since FujiFilm Z700EXR's has a larger sensor area with the same resolution, this means that it also has a larger pixel area hence better light collecting capacity for a given aperture compared to Panasonic FP1.
Below you can see the FP1 and Z700EXR sensor size comparison.
Sensor Size and Resolution Comparison image of Panasonic FP1 and FujiFilm Z700EXR Cameras
As seen above, FujiFilm Z700EXR has a 1.1x Larger sensor area than Panasonic FP1. Larger sensors give photographer more control on the depth of field and blurry background compared to smaller sensor when shot in same focal length and aperture.
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
Panasonic FP1
or the
FujiFilm Z700EXR ,
including hyperfocal distance.
One thing to watch when comparing these two: they have different sensor sizes
(1/2.3-inch versus 1/2-inch),
so compare them at the same framing rather than the same focal length.
Put the same focal length on the smaller sensor and it will show less depth of
field, not more, because it also crops tighter. The calculator shows the
full frame equivalent focal length for each body so you can match the framing.