It honestly depends on what type of TV. If it's a sony 60" it has to be a rear projection model, if it was bought recently or in the last few years it would be a LCD rear projection model. Repair is not impossible nor out of the question. If the green spot is a color stain burned on the screen it's replaceable. However, the cost of a new screen and with installation can be pretty high. Even if it's the LCD projector it's still repairable. Cost could be around 700-1000 dollars. If thats considered to expensive to repair then the answer is yes. Even if the TV did cost more than that you can find some awesome deals on new DLP TV's not to far off from that price range.
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It sounds like the light engine is going bad if you still have a warranty call and get a tech to repair before the warranty runs out. If no warranty it can still be repaired but it can be very expensive. anywhere in the 600 to 1000 range, sometimes better to replace tv depending on costs
Your set uses red, blue, and green lcd panels to produce your colors. The lamp provides the illumination. What has happened is the blue lcd panel has been damaged in the area you are seeing the yellow. The fix for this is to have the optical block (also known as the engine) replaced. This is a very expensive part,... you may want to move on to a flat panel tv.
I had the same problem, first a blue spot then a green spot showed up. I contacted Panasonic Customer Support. They sent someone out and they fixed the TV for free. They reprogrammed the EEPROM chip in the TV. It is a defect. My TV was almost 4 years old and out of warranty.
So long as it is not happening by something you have done. It will be fixed free of charge. Call them, it solves the problem.
The eeprom on this unit becomes corrupt and Panasonic has a jig that hooks up to the unit and corrects the problem. This problem has an extended warranty and you should call Panasonic and have them refer you to a service center to correct the problem and Panasonic will pay for this.
IN your statement says tv is second hand and also you tried degausser method also. The problem is permanent magnetic field affected your tv set. So the best recovery is fix one button magnet in the affected area.