I hav an 42" olevia lcd tv and one day went to turn my tv on and the blue light went away but tv didnt turn on now blue power light won't go on and tv still won't go on what do i do tv model 242FHD T11

My Olevia 42" television is several years old. In March of 2012, the infamous "TV will not power on" problem started.

The blue LED light on the front of the TV would go off for a split second, then light up again. The television would not start.

If you are handy with small tools and a soldering iron, you can change the capacitors on the power supply. My Olevia is a model 542-B11.

I bought the repair kit off eBay from seller: sghill99

As of this writing, the seller has sold 37 of these kits. The title of the auction is: Repair Kit, Olevia 542-B11, LCD TV, Capacitors

And if the url is still active, it is: http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=230554940338&ssPageName=ADME:L:OC:US:3160

I made the repairs in March 2012 and it is now August 2012 and the television is still working great. It is turned on and off several times every day.

Go to Amazon the kid for repair is less 20 usd Olivia 242fhd-t11

Same happened with my Olevia 540-B11. You can probably find the details of how to disassemble the TV somewhere online. The problem is poor stress-relief on the cables that plug into the secondary (low voltage) side of the power circuit board (PCB). Once the back is removed you'll find the PCB on the left side with three cables connected to the very top of the board. These cables plug into four clips, 3 horizontal clips side-by-side at the top and one vertical clip on the left side. Unplug these cables, remove the PCB and re-solder the sockets (there are approximately 40 solder points on the back of the board). Reassemble your TV and it'll work just fine.

You may be aware that Olevia is bankrupt and apparently Emerson bought the leftovers and is offering service but no parts sales.
I found this thread discussing antoher model's various problems but I believe your power supply has likely failed.
Olevia thread
If it is the type of failure related to the switched-mode power supply, these can be repaired by a properly equipped tech; I've done hundreds of them while still in business (which I am no longer).

The issue you are having is your power supply

Thank you

www.orlandolcd.com

If the tv is infact turning on eventhough the power light isnt, its the bulb for the powerlight itself

I just repaired this identical problem on the same model TV. You have a bad power supply (also known as an SMPS). The board is model FSP271-4F02, and is about $75. Unlike the main board for this TV, you can find the power board relatively easily. Try shopjimmy, for example. Replacing the board isn't too difficult if you have a reasonable mechanical ability, have some tools, and are careful.

Check out power supply module first, it sounds like you are only getting 5v standby voltage. Look for bad soldering works or bad capacitors.:

http://en.wikipedia.org/wiki/Capacitor_plague

Sounds like the power supply.