Unfortunately, the issues you are experiencing are symptomatic of an internal hardware defect, often a faulty power supply or main/control board, though there are many possible failure points. This issue could be a manufacturing defect, but is also often caused by a power event (shock/surge, prolonged over/under voltage condition, etc).
This could also be the result of age related wear and tear, as a 2010 model tv, that type of failure wouldn’t be surprising.
There is one step you can take here, both as a possible fix, as well as a diagnostic evaluation
1) Unplug the power cord from the tv
2) Wait at least 1 hour (60+ Minutes)
3) Press and hold the power button (on the set, not the remote) for 60 seconds
4) Keep holding power button while plugging back in, and for another 60 seconds after. When plugging back in, go directly to the wall outlet, bypassing any power strips or surge protectors.
If this reset process does not work, it would unfortunately confirm an internal hardware failure.
This is something that would require repairs to correct; if you're thinking about a do it yourself repair, you'll need to be comfortable and skilled with electronics repairs, which would require dismantling the set (removing the back panel of the tv), diagnostics with a digital multimeter to test voltages inside, changing out boards as needed, and possibly desoldering/removing and soldering/replacing capacitors (a common failure point).
If you’re considering repair at a local shop, you’ll find a typical repair to be around $300 for diagnostics, parts, and labor to replace one of the major boards.
Now, if you're interpreting that light correctly and it's giving 1 slow then one fast flash, that points to a lamp failure. The led backlighting/lamps are bonded to the panel and cannot be fixed. Repairs in that case would cost more than a new tv.
For a 5 year old tv, you may want to consider replacement as an option as well. You can get a brand new tv of this size with updated features (such as local dimming rather than edge lighting for a better picture) and a fresh warranty in the $800 range.
Depending how you’d like to proceed here, I can help with finding parts, finding a repair shop, or recommending replacement options. Just let me know.
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