So I was using my PS3 and it suddenly shut down, when i tried to start it again, the green light came on and like 3 seconds later the system turned off and the light changed to a flashing red light. I let it cool down for more than 30 minutes, tried starting it again but the same thing happens: it turns on, green light for 3-4 secs then it turns off and changes to flashing red light.... Is my PS3 dead and I have to send it in for repairs or is there a way to fix this myself??
It doesn't sopund like an overheat issue, it sounds like YLOD/RLOD to me, so yes sorry I think your PS3 is dead.
If its under the original or extended warranty just contact Sony & ask them for details on how to send it to them, if its not under warranty then the cost is likely to be around $150.00 plus shipping, there are other cheaper alternatives to Sony which you may want to look into.
Sorry your PS3 'broke', I drread it happening to me!
P.S. Contact details for Sony are at the bottom of this & every page.