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The latest firmware 2.40 put out just Tuesday for the Sony Playstation 3 was apparently pulled shortly after its release due to multiple reported problems caused by the update. If you’ve already gotten the update and things are working fine you are one of the lucky ones, otherwise if you seem to be faced with a bricked console you’ll need to be getting in touch with Sony support or possibly trying to fix it yourself.
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The most common problem appears to be that the console gets “stuck” when booting and doesn’t get past that “wave” background display, never reaching the XMB