Flashing red light on front of Sony Wega flat screen tv

Normally, this happens when the TV detects a bad circuit board and goes into " Protection Mode ". The blinking red light should be a error trouble code. Most likely the TV has a power supply related problem. It's possible that it maybe a bad capacitor or transformer on the power supply board. But, I can't say it's 100% the problem because I can't actually look at the tv over the internet. I can only make guesses with the symptoms.

You have a few choices:
1. You can try leaving the TV unplugged for 30 - 45 minutes so the TV can discharge and reset itself.
2. If by chance the TV is still under warranty, go that route.
3. If you have some electronic experience, if you can find and purchase a Service Manual over the internet; It will help you diagnose the source of the problem and fix it by soldering in the new part. The Service Manual will give you red light blinking codes, circuit diagrams, test points, and part# lists.Usually, cost under $20. And most cases the new part cost less than $15.
4. Pay a TV shop to do the repairs. It maybe costly, but get an estimate of how much they will charge. That way you can decide if it worth repairing or replacing the whole TV.

I hope I shed some light on the subject for you.