My iPhone is not reading the simcard

Replace the SIM card. Unless there is more that you haven't told, us, such as the phone is jailbroken or hacked.

http://support.apple.com/kb/TS2802 follow this.

Otherwise

Follow basic troubleshooting found in your user Guide for your phone.

http://manuals.info.apple.com/en_US/iphone_user_guide.pdf

#1: Reset: http://support.apple.com/kb/HT1430

#2: Restore: http://support.apple.com/kb/HT1414

Replace the SIM card, as I said.

Then your phone is broken. Unless it is jailbroken, then all bets are off and you are on your own.

BTW, is there something else you aren't telling us, in addition to the fact that you tried the SIM in another device? For example, that you recently jailbroke the phone, or you recently updated iOS or restored the phone?

i would make sure that the sim card doesnt have fingerprints on it

this a baseband problem its corrupt just restore with itunes

yes i update ios and after that simcard failure happened?how can i solve that problem?

This usually means that the phone was hacked to unlock it. When you updated the phone it became locked again to the original carrier. There is nothing that an Apple hosted forum can tell you on how to resolve this, if it is resolvable, other than to ask Apple what carrier the phone is locked to, then ask that carrier to unlock it. Some will, some will not.