Our 55 inch flat screen Sanyo when powered on it started going through the channel settings by itself. Is there anyway to fix this or did it quit working completely?

Our 55 inch flat screen Sanyo when powered on it started going through the channel settings by itself. We held the power button for 1 minute and it slowed it down but was still doing it. After that it would not come on so we unplugged t for 1 minute then tried to turn it back on; however that did not work. The red indicator light for the power was flickering and dimming but still will not do anything. Is there anyway to fix this or did it quit working completely?