to be honest you're probably stuffed. I got some water in mine and it completely died....there are some little coloured tabs in the inner workings and if they change from (is it?) white to red you've had it
As Kiwi Valley said, there are two sensors in the iPhone that will trip if it comes into contact with water. This happened to my daughters phone. Sorry but if the sensors have been triggered the phone is broken.
Let me first offer my condolences, a water logged iPhone is a very tragic event. I agree with most everyone that setting it in rice will soak up much of the moisture, if that doesn't do the trick, you'll have to take it to an Apple Store. Had this problem last month and sadly my phone could not be saved so I had to get a new one (the story behind that is not worth mentioning)
Silica gel is good for drying things out. Killed my iPod in the washing.machine a few years back and there was no bringing it back unfortunately. If the white dots change colour it voids the warranty it doesn't necessarily mean it is stuffed.
Had an unfortunate experience with an iphone 4 last year that ended up down the toilet (yes, really!). I got it out very quickly and dried the obvious bits and stuck kitchen role into the various holes. Thought I had it dried out a it came back to left but then charged it up. It was obviously still wet a the charging killed it completely. New phone required.
Apparently the best way is to let it dry out slowly. A wet phone dried out too quickly just causes condensation which just messes up more stuff. Apparently!!! Hope that helps anyone.
Wife dropped her iphone in bath. she got it going again but there are general rules to follow. Turn it off instantly. Circuits running will mess it up. Shack it vigorously to get the water out. Put it in rice submerged and leave in a warm dry place. The main problem is that the circuit board can rust when water contaminates it. Anyway, don't attempt to turn it on for about 5 days, however tempting, if there is water still in it, the switch on boost can blow the boards and it's not a good outcome. Wife's phone came back to life. On third day she tried it and didn't function right so she quickly turned it off. After 5th day it was turned on and over an hour or so it all settled down. A fault that developedlater however was the microphone stopped working properly as the circuit was damaged.
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Seriously though, it worked for me. No harm in trying it
A delicious recipe
The phone is responding and charges very slowly but cuts out when it reaches 5% charge. Leave it on charge or back to the rice?
Have you managed to get all your stuff off of it?