Philips model: 42PFP5332D/37 The other day it clicked and the picture went out. The blue light comes on and it stays blue with no picture or sound

http://www.shopjimmy.com/philips-996500042146-power-supply-unit.htm That is the most likely cause of your problem.

Does the blue light just stay steady or does it blink? Also please tell me the make and model of the tv. Sounds like a problem due to capacitor plague but I would like to be sure.

Sai.

That is caused by capacitor bleed of the larger of the High Voltage capacitor as it arcs to ground. The clicking you hear is this arc grounding. To verify this reduce your room lighting and look through the vent holes on your TV set. You should see intermittent flashes of light. If this is the case you can follow my guide which shows you how to identify, and replace your powerboard.

Here is the link.
http://www.fixya.com/support/r4489343-flat_panel_television_repair_yourself

Power supply board is dead.Replaced the power supply board,that the board where the power a/c cord go into it.Tries websites like Shopjimmy.com,Ebay.com to buy a refurbish power supply board for the replacement.

I had the same problem and it was the power supply board,but I replaced it myself and only spent about $140.00 for the part and 2 day shipping . It was easy just pull the back cover off and there are about 8 small screws that hold it on and like 6 connectors that's it. Also ShopJimmy.com was the place for parts on these T.V.'s.

The x-sus and y-sus panels have some fuses,check to find out wich panel is broken and replace.

first thing to do is determine if there is a blink code as that gives a direction for t/s. regardless, what you should do first is offload the y main and x main sustain boards from power supply one at a time as there is a common issue where these boards can cause load on power supply and if voltages come up with either one offloaded that board should be replaced before proceeding. if y main is the issue there is an upper and lower buffer board to left of that board and also should be replaced at same time as 3 boards complete a circuit and replacing one could cause damage to others.

usually blink code on front gives direction but first thing to do would be to determine if surrounding sustain boards are causing draw on power supply by disconnecting them one at a time from power supply. y is on left looking from back and x is on right looking from back. if led goes solid with either board disconnected check supply voltages and if come up and stay up replace that board. if no change then you would need to verify vs on command coming from logic main to power supply. should be labeled on power supply connector and should be 3 volts. if present replace power supply if not present verify if logic main board sitting underneath signal board has one solid and one blinking led on if verifying normal operation and if so replace small signal board

Philips 42PFP5332D/37 power problem.
The set blue light comes on, then then standby light comes on and flashes. no picture, no sound and no help from philips. Anyone knows the cause and possible solution? Help