The displays have 320 x 320px square addressable pixels, but only the circular portion is displayed - that is to say you can draw pixels as though they were there in the lower corner, past the radius of the circle, but nothing gets drawn.
Always thought round LCDs (and rounded corners on displays and now GUI windows) were stupid, and this explains exactly why. What would otherwise be perfectly usable pixels are missing, and the panel itself is still square.