Acer Liquid E specifications:
OS: Android OS, v2.1 (Eclair), upgradeable to Android v2.2 Froyo
CPU: 768 MHz Scorpion processor, Adreno 200 GPU,
          Qualcomm QSD8250 Snapdragon chipset
Camera: 5 MP, 2560х1920 pixels, autofocus, no front camera
Display: TFT capacitive touchscreen, 256K colors
WLAN: Wi-Fi 802.11 b/g, 3G enabled
For a complete set of specifications, click here.

Resetting the phone to factory settings will delete all information saved on the phone, there is an option to erase the files on the SD card too, if you want. Clean boot is the utility to use  whether you can still access the features of the phone or if the touchscreen isnt working anymore.

I. When you can still access the phone, follow thess steps:
    Applications Tab >> Settings >>
    Privacy >> Factory data reset >> Reset phone >> Erase everything
II. When the phone is not accessible
    Turn it off. Press and hold power button until it vibrates / Acer  logo.                                                           
    Press and hold both volume up and down.
    Clean boot: Yes
    Press camera button to enter.