Switch it off
Since usually your device was powered on when you dropped it in water, it is
advisable to switch off you device immediately after taking it out. This will
prevent it from any short circuit damaging the internals of the phone.
Detach Everything
After switching off your device just start removing all possible parts from the phone such as battery, sim cards, and memory cards as well as any accessory such as stylus, case, cover, skin. Use a dry cloth to wipe these items so that no water will remains on them.
Shake it
Gently shake your device to get rid of any water present in the headphone jack, charging port or under physical buttons. Now just wipe the phone with a dry brush, toilet paper, tissue papers thoroughly to remove any water present on the exterior.
Bury Deep it in Rice
Sounds Uneven? But this is one of the most commonly and most reliable
technique. Get an airtight container or a zip lock and fill it properly with
uncooked dry rice. Place your device in it and lock the container tightly. You
can also replace rice with oatmeal or silica gel packs.
Wait ….
Leave the phone in the pack for about 24 to 48 hours. Don’t even try to take the phone out in between to check if it is working or not. If there wasn’t too much damage your phone should start working.
Still doesn’t work
Please keep in mind that there is no guarantee that your will surely survive out of it. There are only 50% chances of success. In case your phone doesn’t work even after it, take it to an authorized service center but keep in mind that water damage is not covered in the standard warranty policy.