What exactly happens is the PS3 red light issue occurs in case of a heavy workload on the console at a particular time. Meaning, this might happen when you are playing graphic-intensive games. Sometimes, a damaged hard drive can also lead to this problem. Overheating is a serious problem that can be caused because of using the console for a long duration at a stretch, which is also known to be one of the probable causes of red blinking light. If any of these or some other serious problem has occurred, your PS3 will beep three times and then the red LED will start blinking. The next time you turn on your console, first the green LED will switch on, which will turn yellow for a second, and then the red light will start flashing.
Fixing the Problem
Do It Yourself
Shut down your console. Switch off its power connection and do the following. A loose cable can be a simple cause of a blinking light, so check all the cables. You can unplug all of them, including the power cord, and then re-insert them back properly. If the red light is still blinking, move on to the next step.
Put off the console, remove and re-insert the hard drive. This step usually helps to fix the problem of the blinking red light on the PS3. Many experts also suggest to carefully clean the hard drive before re-inserting it.
If the problem is caused due to overheating, do the following. Put off the console. Remember, overheating is often caused due to wrong positioning of the console, apart from it being used for a long time at a stretch. Now, before you start the console again, remove and re-insert the hard drive and check whether all the connections are tight.
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