The Xperia Z1 Compact (D5503) has the same 20.7MP camera sensor as seen in the Xperia Z1. Therefore you should expect the image quality and algorithms between both handsets to be very similar. You can see some sample images below from a Xperia Z1 Compact running firmware build 14.2.A.1.114. All pictures were taken at 20.7MP resolution. Let us know what you think in the comments below.
Xperia Z1 Compact sample pictures
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Xperia Z1 Compact sample video