The iPhone 5 features an 8-megapixel camera; whereas, the new Lumia 1020 features a 41-megapixel camera with six physical lenses.
iSource took the comparison photos seen here. The iPhone 5 is on the left and the Lumia 1020 is on the right. You can find a full description of the settings and more photos at the link below.
Of course, the Lumia 1020 performed better when it came to zoom and low light situations; however, its colors seem a bit over-saturated.
What do you think?