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You cannot tell if capacitors are bad just by looking at them. they need to have a meter called an ESR meter to test them, I can tell you with almost certainty that it is a capacitor in the power supply that has failed. The whole board is Sharp 9JY0950CTN02000 Power Supply Board (09-50CTN020-00) LC-50LE440U LC-50LE442U
the error light sequence that you are seeing is indicating a "backlight error". Most likely you have a bad inverter board -the board that powers up the back-lights behind the display panel. They might be available via ebay if you are a DIYer, or you need to call for sony service.
Okay, I found the problem. There is a problem with the ccfl (lamp) groung PCB. Mine is completely burnt through. I am going to attempt to repair it, but will likely need to extract it from a different unit. This board is on the front right of the lx in the lamp housing behind the lcd panel. What is happening: The inverter circuit on the power supply is detecting that one of the lamps is not lighting and it goes into shut down.
There is circuit problem inside. For safety reasons power might get shut down! Unless the fault is rectified, this problem will continue. Do not attempt switching ON again & again. Get authorised service center assistance.
I have had this same problem twice in the past 3 months. So far both times I've been able to get it back after a week or two. I'm not sure what works, but unplugging and detaching the antenna and cable and waiting a few days seems to be the key. In both instances, I unplugged it for a few days then plugged it in for a few days and repeated the processes until I eventually got the steady red led. Both times prior to the red led the led would flash red then green and make a clickiing noise for several hours before I was able to get it working again.