This error code is usually caused by failure of one or more hardware components, although it can indicate that the console is not receiving enough power from the power supply, which can either be due to a faulty power supply or if the power supply cable is not fully inserted into the console. The 3 flashing lights can also be caused by power surges; if the console is connected to an outlet that receives a power surge, it may have a failure and the 3 lights will appear as long as the console is plugged into the outlet. Turning off the console, unplugging all power cables and plugging them back in, and restarting the console will fix the issue in this case.