Panasonic FP1 has a
12.0MP 1/2.3-inch (6.08 x 4.56 mm ) sized CCD sensor and features Venus Engine IV processor. On the other hand, Fujifilm T550 has a
16.0MP 1/2.3-inch (6.17 x 4.55 mm ) sized CCD sensor .
Below you can see the FP1 and T550 sensor size comparison.
Sensor Size and Resolution Comparison image of Panasonic FP1 and Fujifilm T550 Cameras
Panasonic FP1 and Fujifilm T550 have almost the same sensor size, so neither of them has any significant advantage over the other in terms of providing control over depth of field when used with the 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 T550 ,
including hyperfocal distance.