First is the Akai name is owned by Samsung--and here is a general answer:
Red light is shutdown or means only standby light is on.
I see so many here with no sound/nopicture issues:
1. IF sound main fuse/s are good.
2. If no power or standby check main fuse, standby power supply and any signsof damage you can see---burnt parts etc.
3. almost all these sets the troubleshooting involves checking
voltages on the main power board to narrow down theproblem.
4. Be safe and if you do not know what you are doing don't open the set.
Answers to issues:
1. RE:fuses---if a blown fuse is found get a good replacement(not the genericones like Radio Shack). Many fuses are special even aside from amperage--Don'tput a higher rated amperage fuse in the set for any reason.
2. RE: power supply in set: if total dead aside from main fuse the set uses astandby power supply that runs 7/24 and a main supply (some are combined andsome not.
Here aside from checking fuses you want to examine all the filter caps on thepower/standby to see if any are puffed up or buldged up in some fashion--Iattach a photo of a good one---top should be silver metal and PERFECTLY flatand have no brown material coming out on top or bottom.
What happens in the standby area is they use caps with too low a voltage rating(saves money) which causes them to fail in a year or two---the standby runs7/24 and the heat dries out the caps and they fail.
3. Trouble shooting consists of the above and then at some point you have tobuy and try a board to see if it fixes it or not.
4. Safety first--no TV set is worth getting injured or even killed over.