XBox 360 Red Light - How to Fix the XBox 360 Red Light Issue

So you've got yourself an Xbox 360? Congratulations. However not long after plugging it in you may suddenly notice your Xbox 360 has flashing red lights instead of green ones. Not so fortunate after all perhaps. Unfortunately you have joined a list of ever expanding Xbox 360 owners facing the 'xbox red light' problem. The exact number of owners that face this xbox red light problem seems hard to tell, although the failure rate of these consoles has been estimated to be as high as 60% of all units sold. If you are one of the unlucky people suffering this problem you do have a couple of options to consider. The first option (provided your console is under warrantee) is to send it back to Microsoft for the repair.