PNG is optimized by Apple (using Apples encryption methods) and are slightly faster decoding time then the counter part JPG.
JPG does typically require less disk i/o, but more decoding time…
So really it depends on a few things, if you compress your jpg, how much, and the difference in filesize between PNG version and JPG version.
However I may be completely wrong because I don’t know if Corona SDK puts the images through the same processor as the normal iPhone packages go through (being compressed with pngcrush+other stuff using Xcode).
And JPG generally wins the image format war… except in very small sizes in which case gif/png win. [import]uid: 46343 topic_id: 18730 reply_id: 72280[/import]