Yes it will. If you have previously trusted your computer to sync or backup you can try connecting your iPhone to your computer and see if it will let you get on last backup. If it doesn't see the iPhone try a forced restart while it is connected to the computer.
If that does not work you will lose all the data when you do the recovery (assuming it is not already gone).
If the data on the phone has a lot of value to you then you can try to locate a competent 3rd party repair shop (one that can do micro soldering) and see if they can fix the phone long enough to recover your data. If you go this route Apple may refuse to service that phone in the future.