I have experience on lithium batteries from my main hobby, radio controlled airplanes and helicopters.
On this hobby the majority of the batteries used are lithium - polymer (lipo), and sometimes we face such problems.
When a lipo battery is out of the factory its voltage rate is around 3,80~3,85V and about 60% in capacity
a fully charged (100%) lipo is 4,20V and the critical point to make the battery useless is under 3,00V
So 3.47V is not normal for a brand new battery, but it can be saved.
This lipo battery should be charged at no more than 2Amps, I'm not going to explain it further just accept it as it is
Check the charger and I'm sure it has a lower Amp rate!
If you have access to a digital multicharger I suggest the following steps:
1. first of all locate the + and - pins!!
2. set the charger to the lithium - polymer (lipo) program and start charge on very low Amps (around 0,40A will be fine)
3. check periodically the charge state of the battery
4. When the battery reaches around 3,85V when in calm state*, unplug it, insert it in the phone and continue charging as normal
* When charging a lipo battery you will see the Amp rating of the charger is going up and down, like a wave, it's not constant
when Amps go in (i.e. charge rate 0,4A) you will see higher voltage on the battery, when in calm state (i.e. charge rate 0,0A) you will see lower voltage
It will take some time (maybe over an hour) to 'wake up' the battery
If these not work for you, try to 'wake up' the battery with the same procedure but using the NiMH (yes NiMH!!) program on your charger, setting the Amp rate @ 0,2A
------> All these are from my (and my fellows RC pilots) experience! They have saved couple of batteries and never had any problem (leaks, explosions etc.), BUT if you decide to do it, you take all the risks and Ι have no responsibility of your actions!! <------