This will be handy for those with touch screen phones like the OT-708 and in my case a Vodafone 543 which is the same as the Alcatel OT-543.
To Factory Reset which also resets the Security Code back to 1234 use this simple method:
1. Turn phone OFF.
2. While Holding the Volume UP Button on the side Press Power ON.
3. A Warning appears in various languages...
4. Press SEND Key to Continue Format or END Key to exit.
5. Wait around three minutes to finish format.
6. Phone back at Factory Settings!
Must be the easiest reset ever!!
Tried and tested 100%..