It could be both... It could be hardwrae failure while booting.. or if it boots then barely goes to desktop an reboots that means it's software and there's a fix for it on this forum... I suggest you search TMO and try the solutions that the people came up with before contacting Nokia Care, Also there's no new firmware updates after the one you mentioned right now, but soon PR1.2 will be released as it's now in the RC state... PR1.2 is a BIG update and very much anticipated as you might've noticed by now...