First try a Reset ( No Data will be Lost )
Press and hold the Sleep/Wake button and the Home button at the same time for at least Ten seconds... (But can take Longer)... until the Apple logo appears. Release the Buttons
If no joy... Try a Restore...
1: Connect the device to Your computer and open iTunes.
2: If the device appears in iTunes, select and click Restore on the Summary pane.
Restoring > http://support.apple.com/kb/HT1414
3: If the device doesn't appear in iTunes, try using the Steps in this article to force the device into Recovery Mode.
Make sure you have the Latest Version of iTunes (v11) Installed on your computer
- iTunes free download from www.itunes.com/download
Note on Recovery Mode.
You may need to try this More than Once... Be sure to Follow ALL the Steps...
Once you have Recovered your Device...
Re-Sync your Content or Restore from the most Recent Backup...
Restore from Backup > http://support.apple.com/kb/ht1766
It says its already in recovery mode. I have put it into Itunes but it says 'Itunes is currently downloading software for the IPhone'.
If using windows...
Temporarily disable your firewall and antivirus software and try again...
See iTunes Connection Issues here...
I'm using a iMac, Its fully updated with all the software on it. I think because the phone is still installing the IOS 7.0.4 its not letting me do anything or connect with iTunes. I've pressed the home button and the lock button at the same time for a few minutes, but still nothing happens, Its like the phone is dead but when it turned off it was 83% battery. As its a brand new phone, I havent connected it to my iCloud to restore anything so everything will have to be erased.
I had no problems with it before, its only when I chose to update the software it died.