Xperia Neo V Getting Restarted Frequently Automatically

I purchased the new Xperia Neo V last Saturday only. As soon as I came home and started using the phone it started rebooting every now and then. I searched on internet and found that many people are facing the same issue with the same model. On Sony Ericsson forum they recommended to go for a factory reset and software upgrade. I tried both the things but it is exhibiting same behavior.It doesn't reset when you're working on it but as soon as it goes in standby mode and I try to make it alive by pressing the Home key it restarts. I also observed restart issue while receiving calls.At times, it resets itself continuously, when I keep it idle. The device screen gets dark then after some time the device splash screen reappears (the graphics that it shows while turning it on), then again a while it goes into standby mode and again the same cycle. I've noticed it resetting itself like this for more than 10 times at a go.

Earlier the phone had s/w ver 4.0.1.A.0.283 after updating it became 4.0.2.A.0.42.I've seen on net that many people had experienced this issue with other Xperia models. Did sony not learn from its earlier mistakes? You might not have the idea how bad impression you guys are creating in the market. Just search on the net and you'll come across thousands of people being harassed after trusting Sony. I've been a Sony fan because my last SE phone W700i is still performing its duty without letting me down. That was the only reason I trusted again Sony this time.I urge you not to play with sentiments of people, at least if you are aware of the cause of this problem, communicate it to your users properly and provide a proper solution at the earliest.