Philips Plasma

[Mark]

Hi,
I have a 2 year old Philips 32” Plasma TV which when I turn on, the standby light turns green for a few seconds and then turns to a red flashing light.
My gut feeling is that it’s the power supply because there was no screen depravation and it just suddenly stopped working. There was no knocks to the TV has its wall mounted. Can somebody please help and tell me some good news because when you talk to repair engineers they say it’ll be cheaper to buy a new one :o(
Cheers
Mark