Philips 28PT445

[PhilC35]

Hi, I have a prob with my Philips 28PT4475 tv. I turned it on the other day via the standby button and heard what i can only describe as an "electrical shorting" sound. The standby LED illuminated briefly then went out completely. I switched the set off and on again, this time "moving" the button around slightly - the LED stayed on and i was able to turn on the tv via the remote! Can anyone please help me as to the cause of this? Is a possible fault with the actual switch or dry joints???