First be sure you are using the correct hard reset key combination and not using the ones for going into Bootloader mode (which is where you are at).
Soft Reset
* Using a stylus, press the soft reset button at the bottom of the phone
Hard Reset
* Press and hold both soft keys
* Using a stylus, press and hold the soft reset button at the bottom of the phone
* Keep all three buttons pressed until the keypad lights turn off and then flash
* Release the soft reset button while still pressing the soft keys
* Let go of the two soft keys once the message
“This operation will delete all your personal data, to manufacturer default” appears on screen
* Finally, press the green call button to perform the hard reset, or press other key to cancel
Bootloader Mode
* Press and hold the Camera button
* Using a stylus, press and hold the soft reset button at the bottom of the phone
* Release both buttons once the bootloader screen appears
If hard reset fails using the correct key combo then if you have a warranty then I suggest using it it because it’s possible you have bad blocks in memory. Otherwise, see here:
