Just was running then cut out then the blinking light started .
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did you open up the ps3 up yet? did you call sony about any warranty info yet? most times cheap capacitors leak.....happens all the time...it happened to my car ECU, my PC mother board, to my monitor's internal power supply, my PC's power supply....monolithic capacitors are a pain in the ASSSS in so many different applications... see if your PS3 has any leaky or bulging capacitors.....