iPhone 4 dying in recovery mode

My iphone 4 died sometime this morning.

Tried to restart it but it was stuck in a loop with the apple logo screen. Then tried to hardware reset (pressing the home and lock screen button down) this lead to the iphone entering the recovery mode.

now trying to recover the device, when the itunes is preparing iphone for restore --> waiting for iphone response--> screen flash and turns off.

then turns on agin with the recovery mode screen.

Not able to recover it.

Any help would be really appreciated.

Thanks :)