Sony trinitron kv-27fv17

Those blinks [flashes] are fault indication (Error Codes). From the number of blinks occur at one time switch ON, you can get an idea about the faulty circuit section inside it. This will make repair easy. These are called blinking codes. Make sure about the exact number of blinking of the standby/power LED, by switching On & OFF the set, for at least two times. Count it carefully. If you wish to get some details, check the site linked here. It has details about blinking codes, and fault locating procedure, to many popular brand TVs and other devices.
http://homenol.blogspot.com/
http://electronicshelponline.blogspot.com/
If blinks continue without any pause, the main board is faulty.

These blinks [flashes] are fault indication (Error Codes). From the number of blinks occur at one time switch ON, you can get an idea about the faulty circuit section inside it. This will make repair easy. These are called blinking codes. Make sure about the exact number of blinking of the standby/power LED, by switching On & OFF the set, for at least two times. Count it carefully. If you wish to get some details, check the site linked here. It has details about blinking codes, and fault locating procedure, to many popular brand TVs and other devices.
http://electronicshelponline.blogspot.com/
If blinks continue without any pause, the main board is faulty.
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These blinks [flashes] are fault indication (Error Codes). From the number of blinks occur at one time switch ON, you can get an idea about the faulty circuit section inside it. This will make repair easy. These are called blinking codes. Make sure about the exact number of blinking of the standby/power LED, by switching On & OFF the set, for at least two times. Count it carefully. If you wish to get some details, check the site linked here. It has details about blinking codes, and fault locating procedure, to many popular brand TVs and other devices.
http://electro-medical.blogspot.com/

If blinks continue without any pause, the main board is faulty.

These blinks [flashes] are fault indication (Error Codes). From the number of blinks occur at one time switch ON, you can get an idea about the faulty circuit section inside it. This will make repair easy. These are called blinking codes. Make sure about the exact number of blinking of the standby/power LED, by switching On & OFF the set, for at least two times. Count it carefully. If you wish to get some details, check the site linked here. It has details about blinking codes, and fault locating procedure, to many popular brand TVs and other devices.
http://electro-medical.blogspot.com/
If blinks continue without any pause, the main board is faulty.

These blinks [flashes] are fault indication (Error Codes). From the number of blinks occur at one time switch ON, you can get an idea about the faulty circuit section inside it. This will make repair easy. These are called blinking codes. Make sure about the exact number of blinking of the standby/power LED, by switching On & OFF the set, for at least two times. Count it carefully. If you wish to get some details, check the site linked here. It has details about blinking codes, and fault locating procedure, to many popular brand TVs and other devices.
http://electronicshelponline.blogspot.com/
http://electro-medical.blogspot.com/
If blinks continue without any pause, the main board is faulty.

With most flat panel TVs, the TV turn itself OFF when it has a fail electronic part and the red light starts flashing. They call this "Protection Mode". The flashing red light should be a error trouble code.
But, it's weird that everything is working and the red light is flashing. Since you just recently bought the TV, I would get it check out while it's still under warranty. Better safe, than sorry.

Need to know the model number and also how many times is the led flashing in between pauses as the blinks are indicating an error code, But cant help without the model number and knowing how many blinks its blinking.

3 years ago, i had the same problem with a samsung 36", when i switched it on it would stay on for around half an hour, i tried to switch on straight away, but it wouldnt, i had to leave it for an hour or so, then it would stay on for about 5 minutes. And the same thing the next day (half an hour then 5 minutes). I left it into the repair shop, it had to get a circuit board replaced at a cost of £315, dont know how much it will cost to get fixed now, as i could buy the same tv for a little over that now.

standby button blinks no picture no sound have tried to reset and restart nothing has worked to get tv to back on

Can you count how many times it flashes ? It might flash like 6 times and pause for 2 sec and flash 6 times again. THen call a service comany and tell them this info and they might tell you what part inside is bad. They are not telling you this for you to replace but they might say something like oh 6 flashes is a Y board and we will have to order it.
Hope this helps