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How do I fix my ps3 with the Yellow light of Death?

I was playing Modern Warfare 2 online and the my ps3 suddenly shut off and now it will not turn on. When I try to turn it on it shows the green light, then it turns yellow, and the it starts flashing red. Is this from overheating or a major pcb borad/blu-ray reader problem

This is sometimes do to overheating of the thermal compound on the heatsinks that keep the system cool. Sometimes very rarely it is the power supply but, to answer your question.

To fix it you have to re-flow the GPU and CPU chips on the motherboard with a heatgun, take the old thermal compound off and use Arctic Silver 5 thermal compound and reapply it to the heat sinks. You have to take the whole thing apart to the motherboard and here is an amzing tutorial on youtube and he is doing it on the 60GB model.

http://www.youtube.com/user/gilksy1

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