Well I think lossless zoom in 920 is that it uses the middle portion of the 8MP sensor when you zoom in.. I mean that camera is 8.7MP and full HD is merely about 2MP so it crops the central 2MP portion of the 8MP sensor when you zoom 1.8x lossless through pro cam. It's just my guess though, I don't know actually but I think it's correct.
And what montsa said is all correct too..
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