A number of fixes have been offered by Sony for new PS4 owners whose console has displayed the blinking blue light fault warning.
An info page on the PS4 forums says that the warning can relate to a number of things such as TV compatibility, the console's power supply or the hard drive. Symptoms include the aforementioned blue light, the console powering off or no a/v output to the TV.
The possible fixes cover a wide range of options such as trying a different power cord and checking the hard drive seating. As well as turning it off and on again.
The internet would have you believe that hardware problems are proving a common occurrence on PS4 but the truth of the situation cannot possibly be ascertained for the time being.
Sony said last week that it was seeing a 0.4 per cent PS4 failure rate – a number that is within our expectations”.