Update of 7.0.3 on iPhone 4 fails with an error has occurred

I am trying to update my iPhone 4 to 7.0.3. But the installation quits with an error message that is not indicating the nature of the problem. The same happened with 7.0.2 already. Where can I find more details what exactly went wrong and what I can do to fix?

Make sure there's enough free storage space.
Tap Settings > General > About > Available
The 7.0.3 update is approximately 92MB's.
If there's plenty of storage space, try a reset.
Press and hold the Sleep/Wake button and the Home button together for at least ten seconds, until the Apple logo appears.
If that doesn't help, tap Settings > General > Reset > Reset All Settings
Then try updating again.

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