Xbox 360,error code 0003 -Fix-?

A quick Google search for "xbox 360 error code 0003" yielded this result: Xbox 360 Repair Fix: Xbox 360 Error Codes Explained

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0003: Power problem could be the PSU could be the GPU/CPU, somehow the console isn't getting clean power from the power supply.

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If it is dirty power, a power conditioner might solve the issue. But if the problem is internal with the PSU, then you will need a new power supply for the XBox. If it is under warranty, contact Microsoft as they will take care of this for you.

Power conditioners can be purchased from just about any electronics retailer and usually range anywhere from $50 to hundreds (USD).

Otherwise a GPU or CPU issue is going to be a pain to fix on the 360 and you'll be best off just replacing it (assuming no warranty). Or at least check what Microsoft will charge for fixing it outside the warranty.