Something was not told here.
https://www.google.com/search?q=KDL70W850B+five+blinking+red+lights&ie=utf-8&oe=utf-8 finds priors so you would go over those and the first hit found it was the panel which costs as much as most TVs today.
Get estimates and then decide.
So I just purchased an KDL70W850B and I am just outside the one year warrenty date. I did a factory reset and nothing. It's just blinking 5 blinking 5 blinking 5 times. Anyone have any ideas.