I had the same problem. Then it worked for a while with me unplugging it and plugging it back in. Then one day it bit the dust. Nothing but the red light.
I found the solution on this website and I am trying to find it to thank the guy who posted it. For less than 10 bucks at Radio Shack, I was able to fix the problem with his instructions. And I know little to nothing about electronics. What it boils down to is this:
1. Lay the TV face down on something soft.
2. Take out the gazillion screws in the back until the back panel(s) come off.
3. Where the power cord plugs in, there is a ground wire going to a screw and another plug that you can undo. On this circuit board lies the problem.
4. Remove the circuit board (there are several other plugs on it. They all fit only one way, so I didn't pay much attention to how they came off.
5. Look on the board at the light blue cylindrical shaped capacitors. I don't remember how many there are, but look at the top of them. Find any that are bulging slightly at the top. They should be easy to spot. I had six on mine that were bulging. If you are handy with a soldering iron, remove the bad ones, making sure where each one comes from. There are a couple of different types/sizes. It is written on the side of each the resistance and what I assume is the voltage.
6. Go to the local Radio Shack and purchase new resistors. Note: I had some that were 1000 um and 36v or something and some that were 440 um and 16v. I couldn't find an exact match on one of those, but according to who I got my instructions from, as long as the resistance (um) number is the same, you can go up in the volts. So I ended up replacing some that were 16v with like 35v but the resistance (um) was the same and there are no problems.
7. Solder them carefully back into place. The circuit board is clear about which hole is positive (+) so don't get them backwards. The ones I bought from Radio Shack had a stripe on the side that was negative.
8. Put it all back together, and there ya have it.
Cheap fix. I admit I was darn skeptical it would work. I had already bought a new tv, but decided I wouldn't be out much if it didn't work. But it is working like the day I bought it again. And, it has a better picture than the Philips LCD tv that I bought to replace it.
Wish I could find the guy I got that info from. I was very impressed and grateful.
Hope this works for someone.
on Jun 06, 2014