This is a error code more than likely a power issue. Check the power supply of the Philips web site for the error codes.
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These blinks [flashes] are fault indication (Error Codes). From the number of blinks occur at one time switch ON, you can get an idea about the faulty circuit section inside it. This will make repair easy. These are called blinking codes. Make sure about the exact number of blinking of the standby/power LED, by switching On & OFF the set, for at least two times. Count it carefully. If you wish to get some details, check the site linked here. It has details about blinking codes, and fault locating procedure, to many popular brand TVs and other devices. Viewing it in "Mosaic" or "Magazine" will make surf easy.
http://electronicshelponline.blogspot.com/
Blinking codes details to many popular brand TVs are given. Surf the site with patience. Do a search by type in the brand name of the device to the search box.
Counting of number of blinks to Philips TVs is entirely different to that of other brand TVs. It is not a direct count procedure. The site have details about how to count the number of LED blinks [Fault Codes] to Philips brand TVs are given; along with details of the faulty circuit location.
Www.support.philips.com/support/.../catalog.jsp?...TELEVISIONS.
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