@p3c0,
Thanks for advice. I removed clip, but unfortunately it did not help. Further testing shows that as long as image fits to 2048x2048 size there is no loss in image quality. After some searching, I am guessing that this might be caused by Android texture size limitation.
Dealing with Android's texture size limit
I don't know how Qt handles this internally, but it definitely looks like there is some automatic scaling happening when image is not fitting into certain size.
Maybe there is some workaround for this. Otherwise displaying large images requires more than "image + flickable" approach.
Bob