This message is not a hardware failure – I bought a new laser and laser chassis and did a direct replacement but still got the same message (Yes it was the right part number etc etc). This error is caused by a firmware update from Sony. You can’t reset the firmware once you have downloaded and installed it, even if you do a full system reset to factory settings the new firmware version will stay on there. You can’t roll back the firmware as some of the newer games rely on it for their features to work. In other words you are fucked and Sony refuse to acknowledge that they have broken your machine.
If you have warranty then great – get them to fix it or replace it for free. If you don’t have warranty then you can pay them a shit load of money to fix it or replace it. If you are feeling brave then you can try to fix it yourself as I did but you will most likely run out of things to fix and be left wondering how you are supposed to fix the firmware.
Some have reported fixing this error by doing the following:
1. Start with having the system in standby (redlight is on)
2. Hold the power button down; the system will turn on and turn off once again.
3. Press and hold the power button again and keep holding, it will beep as it turns on and then it will double beep. When you hear the double beeps immediately take your finger off the power button (if your system turns off before you get a double beep just try again and hold the button, it should double beep the 2nd time you try)
4. You will be prompted to plug in your controller via USB and then hit the PS button
You will now have a screen with these options (I have attached a picture of this screen below)
1. Restart System: Restarts the PLAYSTATION 3 System.
2. Restore Default Settings: Reset all system settings back to default.
CHOOSE THIS ONE 3.Restore File System: Checks for corrupt/missing system files.
4. Rebuild Database: Rebuilds the OS for the PLAYSTATION 3.
5. Restore PS3 System: Fresh restore; Deletes everything and starts from Scratch.
6. System Update: Update the PLAYSTATION 3 System
IT IS VERY IMPORTANT THAT YOU DO NOT CHOOSE THE WRONG OPTION HERE OR YOU WILL LOSE ALL YOUR DATA. The one that fixed my blu-ray drive is option 3: RESTORE FILE SYSTEM
If the Blu-ray Disc does not support 1080p 24Hz video mode, the video output may not display properly. Go to [BD 1080p 24Hz Output(HDMI)] under (Settings) > [BD/DVD Settings] and select “Off. It worked fine 4 me, for now anyway.