PS3 guys.. Little advice on PS3 hardware.

I was just given a first generation fatboy PS3. It will play fine but it won't recognize when a disc is inserted into it. It has a little disc icon in the top right hand corner that I assume means it's trying to read the disc?


Anyone had any experiences with this? Are the lasers prone to going out? I've googled and can't find any information other than "Send it to Sony". Just wondering if there is a quick fix if it's a common issue.