Do we actually lose image quality/detail when setting pics to 16:9?

re:

No it's the same quality.
The hi-res pic in 4:3 is 38 MP and in 16:9 is 36 MP.
But the Lumia 1020 generates always 5 MP Pics out of these hi-res pics.
 
re:

picture quality both the same ! its only really when it comes to posting them on web sites and they change the image quality format to fit there sites needs.
 

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