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Your device does have a component similar to a hard drive. It has ROM that holds the operating system image and this will reload when you do a hard reset. Data and application storage is in RAM and that is maintained by power flow, just as on your desktop system. And just like on your desktop system, no power means no memory. If your device went completely dead and did a hard reset, what was stored in RAM is gone. This is the same on your desktop. When you turn off the computer's power, whatever is sitting in RAM is wiped.
Some devices have a limited flash ROM storage on which backup copies of certain PIM items and databases are held. You can check to see if there is a ROM safestore on yours. Most of what was loaded, both apps and documents, is gone unless you have a recent backup that you can restore.
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