Problems with a Sony Cyber Shot DSC-T50

I've had the camera for a little under a year and it's been working just fine until recently. I'm not sure what caused or is causing the problem, but now whenever I turn my camera on it shows me something ranging from a fully grey screen or, at the best, just a side bar of either full black or grey on the right side of the screen. Here's a picture of what I'm currently looking at.

http://img299.imageshack.us/img299/1774/photo19ql3.jpg

Any solutions on how I can fix it myself, or do I have to replace it or get it fixed?

That is unfortunate, but replacement/repair is necessary.