( please read the steps first and then perform) :
1. While gears are spinning, Press VOLUME DOWN and POWER BUTTON together, keep pressed till phone goes blank, vibrates and NOKIA appears and then release the buttons.
2. Immediately press following buttons in sequence ONE by ONE i.e. press release..press release :
after this, phone will restart or gears will continue to spin or you will feel you are struck at NOKIA...but it wont take more than 5 minutes and your phone will be back to life.
I DID IT and you will also.. Enjoy.
Please share if u find it useful.