I'm sorry to hear about this. I'd try resetting it. And if it still continues after the reset, then request service for it.
Instructions for Reset: http://support-us.samsung.com/cyber/popup/iframe/pop_troubleshooting_fr.jsp?idx=349392&modelname=YP-GS1CB&modelcode=YP-GS1CB%2FXAA
Where to get information on how to setup service: http://forums.cnet.com/7723-13973_102-542437/service-issues-click-here-for-help/
My son has a Samsung player 3.6 and it is stuck in endless cycle of rebooting when the wireless is turned on. It stays on for about 10 seconds and then reboots. I got it to stay on long enough to turn the wifi off and it broke the boot cycle and stays on. I did the factory reset and as soon as I turn the wifi on it crashes and goes into the endless boot cycle. It fully boots up but only stays on for about 10 seconds as long as the wifi is on. I have searched all over and found no viable solutions. Any help would be appreciated.