In order to hard reset a Elephone S3 Lite, you should perform the following steps.

Remember! Hard reset will delete all the data on your device; pictures, contacts, messages, apps and more.
Elephone S3 Lite device will be brought back to the default configuration of a brand new device.

1. Power down the phone by pressing the Power button.

2. Now press'n'hold the Volume Up & Power buttons until WALTON logo appears.

3. Press-hold Power button to enter Recovery mode.

4. Now select the wipe data/factory reset option. To do so, use Volume and Power buttons.

5. Select Yes.

6. Lastly, select the reboot system now with, again, Power button.

7. Lastly, select Reboot System Now. That is all.