There is a hidden thermal fuse in the transformers winding that is bad on the power supply unit. can be fixed for around $3.00. look it up on youtube."panasonic th-42pz77u repair" hope that helps.
In most cases the standby light might blink with different rapidity to indicate a fault relevant to the processor. It is possible that most of these indicate that there are errors in the processing section . Since there is a possible short or leak in the circuit the output driver section can take in huge current to trip the SMPS or from advice from the micro processor. Remove the power plugs and make sure that high voltage sections are discharged of the potential stored in capacitors. Look for visible signs of leak or of busted capacitors. Look for bulged capacitors or damaged components- burnt or busted. Use a multimeter to check the continuity or shorting in components, if so detach from circuit and test . If the voltage builds up and the set power ON and then shuts up then the suspected section must be checked in detail. The processor must have the +5 voltage to the function properly , the +B and secondary voltages also must be checked to infer the fault. Trace with caution and in running through the signal path , circuit trail. Check for tips to check the SMPS unit: http://www.fixya.com/support/r5826301-working_switch_mode_power_supplies Thank you for using fixya.
Switch off the tv & try to turn on after 10 min. if it happens again there may be loose connectors inside tv. if you can do: unplug the tv remove the back cover & have a close look for loose connectors.
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