Hard Reset LG P503 Optimus One

1. Check device it must be turned off. 
2. Then press and hold both Volume down rocker + Power button. 
3. When LG logo will flash, release keys
4. Confirm process by pressing twice Power button. 
5. Success! your phone should restart now and you can work on it.

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WARNING !
Hard Reset will erase all of your data
All described operations you are doing at your own risk.