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This fault suggests an issue with the power supply board, most likely its unable to provide a continues voltage to the main board and causing it to power down and back up again.
How long have you had the TV?
Ok the TV as a good 5 years life left in it then, and would be worth repairing.
would you be looking to repair the appliance yourself which would require removing the back checking the voltage with a multi meter then replacing the power board which is a printed circuit board held in by screws and cables with push fit connectors?
Once you have checked the voltage on the board with a multi meter to verify it is the power board and not a faulty IC on the main board, you can source the part from a spares firm such as this one here.
However you need to make sure you match up the P/N on the board, as you get many variants for the same model.
The average cost of a power board is around £30-40, you can also source them cheaper from eBay, but not confident in the quality.
Please let me know if you need anything further.