I was playing a game on my Xbox One S when I noticed that the blinking light was coming on and off. I thought it might be something wrong with the console, but it didn’t seem to be. I decided to take it to Microsoft for a check-up. The Xbox One S has a problem with its power supply, according to Microsoft. The blinking light is most likely caused by the power supply not being able to provide enough juice. If you experience this problem, you can try changing the power supply or buying a new one.