This affected both online connected as well as offline PS3's, it soon became apparent the cause was an issue with synching of date stamps between processors. Older model PS3's believing the date to be Feb 29th instead of March 1st.
The desynchronising causing issues with Trophies (the in-game award system) and connecting to the PlayStation Network.
The errors included:
* The date of the PS3 system may be re-set to Jan 1, 2000.
* When the user tries to sign in to the PlayStation Network, the following
message appears on the screen; 'An error has occurred. You have been
signed out of PlayStation Network (8001050F)'.
* When the user tries to launch a game, the following error message appears
on the screen and the trophy data may disappear; 'Failed to install
trophies. Please exit your game.'
* When the user tries to set the time and date of the system via the
Internet, the following message appears on the screen; 'The current date
and time could not be obtained. (8001050F)'
* Users are not able to play back certain rental video downloaded from the
PlayStation Store before the expiration date.
CONTINUED on Page 2