I'm afraid you are right suspecting the power supply; most modern sets use switching power supplies and they often fail when the source AC is screwy.
It might not have been the low-normal-low-normal swings but an unseen, short term surge that killed it.
The cycling is occurring to prevent a potential fire or more severe damage; a component has been whacked and the supply is detecting a fault condition, probably excessive current from some circuit.
I'm afraid you are stuck with a repair, if it was mine, I'd look inside first but some basic instruments are needed and technical background.
I highly recommend to homeowners that they install a 'whole house" surge protector. Especially in lightning prone areas.
With installation, around $200-300 US although an intelligent person can do it, it will require shutting down the home.
The surge protectors range from ~$110-200; most have a long warranty and many include insurance to cover items damaged despite the protection.
The 'Olevia' caught my eye, we bought a 47" about a month ago and are quite pleased with it.
I have had no reason to seek parts for the set we have and have been out of the service business for a number of years. Many of my general parts sources are defunct since all but maybe 10-15% of electronic stuff is cheaper to toss than repair.
In most such sets, the larger majority of the components will be available from other sources but most of the circuitry is assembled by robotics and contains parts that are nearly impossible to replace by hand.
The power supply is one exception as many of its (far fewer) parts are amenable to hand assembly.
I have read several times of a power board implying that it is separate from a main board and probably not difficult to remove for servicing. This is not an uncommon arrangement. Switching power supplies are by their nature, very easy to design for a broad range of input voltages and line frequency differences but there may still be reasons to adapt them for some local power considerations.
This may allow for removal and repair of the supply itself elsewhere and the nature of your failure points to the supply but does not preclude a problem not related to the PS itself; it may be just going into a protective mode as described.
If our Olevia fails, I will probably make a study of it to determine if there might be a small business opportunity in restoring the supplies at a reasonable cost.
I'm fairly sure that the millions of capacitors made with defective Chinese electrolyte will be plaguing us for many years to come and who knows how many are still in the pipeline.
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Thanks for the online diagnosis. Are parts available for Olevia products at a reasonable price anywhere?
Thanks again for your help. I have decided to keep the chinese trash in my basement for awhile before I open it up or chuck it. Maybe I will get lucky and find another sitting outside for trash removal at someone else's house in the future. Make one from two if I get way lucky hehe Funny how I have ancient tv's that just won't die. A couple are 30+ years old. Anyway thanks guys.
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