Panasonic FX48 has a
12.0MP 1/2.3-inch (6.08 x 4.56 mm ) sized CCD sensor . On the other hand, Olympus TG-310 has a
14.0MP 1/2.3-inch (6.17 x 4.55 mm ) sized CCD sensor and features TruePic III+ processor.
Below you can see the FX48 and TG-310 sensor size comparison.
Panasonic FX48 and Olympus TG-310 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.