If your system:
1. Beeps three times
2. Blinks the Red LED light
3. Flashes a quick Yellow LED before turning Red
Your system might have experienced the "Yellow Light of Death". This is usually a sign that the system has overheated. Try turning off and unplugging your system from the power outlet and leaving it for a couple of hours.
If the system still doesn't turn on/boot up after a couple of hours, you should contact Sony (especially if you are still in warranty).
If your system is no longer in warranty and you know how to tinker with electronics AND given that your system is the old "Fat" version, then you could try fixing the system yourself.
Since the YLoD or "Yellow Light of Death" is a general hardware failure, given that if your problem is with some components of your system (such as the GPU's solder/thermal paste getting dry/broken) it can be fixed through a couple of procedures.
Please proceed to this Forum Thread to see the procedures:
http://community.us.playstation.com/thread/484908?start=0&tstart=0http://playstationlifestyle.net/forums/showthread.php?t=2376Note that this does not apply on all systems that experienced the YLoD.
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