This happened to my friend. He called SONY and they said the only way to fix it was to send it in. The guy was really nice too, he really helped him (I was there) and it wasn't SONY being "cheap".

If you got your console a month ago see if it also still under warranty from the shop you brought it from, you maybe able to replace it for a new one. I know alot of new consoles come with a 1 year warranty I believe and also the shops offer a warranty depending on their sells laws. Check it up with them, if not then contact Sony as users above have stated.

Try completely restoring your PS3. Beware, this erases EVERYTHING on your PS3. Just an idea....
Here you go man

This used to happen to my slim randomly powered of every 5mins turns out it was the hdd. However most of the time with the slims this is what causes it however by doing this you avoid warranty

Hey man,

I advise you to, first of all, restore your ps3, this can be done by entering recovery mode, a tutorial was posted a few posts ago by a fellow member

If this does not work, try and do the method what the user above me has posted (if you think you can, watch the tutorial first!)

If all fails, send it in to sony, if you have a warranty it should be free (if you do, do not do the step above, opening it voids your warranty!)

hope this helped

mudkip

you got a bad power supply id send it in on warnty if not u pay buck fifty to get it fixed wich is $150.00

Hey i recently had the same problem ps3 3 months old and then all of a sudden power issues. This unit is my jailbreak so no way i am sending in to sony. Try unplugging power cord for 24 hours and then plug it back in power up and try to load a game. I know this sounds bogus but it worked for me and i have not had any issues since.

put it in good place that it can be cold not heat