PS4 Red Light Of Death Issue Fix Already Available, Its Overheating Issue Indicator
According to Sony, most of the retail Playsation 4 units that gamers have gotten their hands on worked perfectly without any issue, however there are rarest of rare cases less than 0.4% where PS4 retail unit doesn't work due to some issues.
Sony stated that they are already aware of faulty HDMI port issue, PS4 firwamre 1.50 download and install issue and Red Light flashing on console which is termed as "Red Light of Death", blinking red Light flash and followed by PS4 console shuttign down.
This Red light flashing is not RLOD, as per the official details from Sony, blinking Red Light on PS4 indicates overheating issue and in no way it means that console is bricked and is not unusable.
All you need to do in this issue is Keep PS4 ON for sometime for cooling and restart it. We have already covered a topic on this: How PS4 Indicate Overheating Issue.
The exact cause of PS4 overheating issue is low ventilation, so we advice our readers to keep their pS4 console in open area where it can have proper ventilation, and not to worry at all about Blinking Red Light.