My Nexus 4 after 5.1 update does not turn on, how can I solve this problem?

Yesterday i have updated to android 5.1. The problem iam having is the phone is in waiting mode and will not turn on.

I have search on internet how to solve the issue, tired the following:
wipe cache partition and factory reset but it didnt solve the problem.

Is there anything else i can do it? Is the phone ok or its broken now?
I was thinking of re install android manually to older version, what is the best way to solve the problem ?

Thanks in advance

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