HT201210 Iphone 4 dropped in water, now dried out two weeks later, showing IOS6. connect to Itunes but it will not update or install, any ideas in if there is anything I can do or is it time for a new phone?

by juggling the phone whilst washing up, I accidently dropped it in the sink, I had just became unemployed so no more insurance by a day..
I have follwed advice dried out phone in rice and in airing cupboard for nearly two weeks
Screen looks OK minor discolour on top of screen but no IOS
Tried connecting to Itunes it starts to restores then stops.
any ideas in trying to get it to work or is that it, new phone required which I can not really afford at present.
Controller 62

It's time for a new (replacement) iPhone.  Take it to an Apple Store or Authorized Apple Service Provider.  You may well receive some credit for your old one.

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