Then flashes red, then turns constant red (off)
SOURCE: Well when I turn on
well yes obviously the flashing red light means that if u do not turn off ur PS3 it will die. but depending on how long u have had ur PS3, it may be becuase the life span is almost over.
if u have not had for a couple years it is most likely a manufacturing error
u should send it in to sony before the warranty is up and have them take a look at it
SOURCE: green light yellow light red light
Here is someone on eBay that does it also.
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=380166005639&ssPageName=STRK:MESELX:IT
SOURCE: ps3 the light goes Green,Yellow,Flashing Red
this is called the yellow light of death,, ylod..
Sorry to be the one to tell you this but its not good!!
A main chip/chips got to hot to many times over time...[CPU,Video and and/or RAM IC's..
This can be fixed but if not done right it will not work for long or make it unfixably
I would say send it back to sony,,
if your willing look up ylod fix and try to fix your self,,
refloating the chips do work if its done right,, be careful if you try, and do alot research on ylod first!!
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