Ukh, the yellow light of death, or “ylod” as its known on the web. There are SO many complaints regarding this issue. You start up your Ps3, it beeps, then a yellow light appears, which becomes a flashing red light. Sound familiar? Yeh, my ps3 suffered the same fate, maybe cuz of the dust it accumulated. However, the guys at www.ifixit.com came up with potential solutions. Have a look below.
Step by step guide:
Step by step instructions by video: