Hi there luckyfast1 ... I have searched around for info about your problem ... and it seems to be related to a hardware issue ... sometimes the BluRay reader, sometimes the HD and sometimes the WiFi card...
When you start your PS3 be sure that the blue light is lighting up. If it's not, then is a BluRay reader problem and maybe you should doble check the ribbon cable connection (somebody had to keep pressing it with his fingers until the update process finished for it to work) these steps i have found, even when I wouldn't do this as my heart would fault me, maybe you are braver:
Ok, just to clarify this error, it is usually caused by an error with hardware within the system, for instance if you have a broken or missing Blu Ray drive.
The removal of the hard drive is the way it works but there is a very important step you have to follow as well.
IMPORTANT : YOU WILL LOSE ALL SAVED DATA ON YOUR HARD DRIVE USING THIS METHOD!!!! READ THROUGH THESE INSTRUCTIONS FIRST VERY CAREFULLY BEFORE DOING ANYTHING. MAKE YOURSELF FAMILIAR WITH THE PROCEDURE SO YOU GET IT RIGHT FIRST TIME!!! PRACTICE THE DISK INITIALIZATION PROCEDURE FIRST!!
Step 1. If your system is in the "update loop" then continue. If it is some other error do not follow these instructions. MAKE SURE YOU HAVE A PC CLOSE BY AND A SATA USB HARD DRIVE DOCK WHEN FOLLOWING THESE INSTRUCTIONS!!
Step 2. When your system is turned on normally and informs you the last update was cancelled and installing again, unplug your hard drive at the side of your PS3 while it is installing. It is under a little cover and held in by a little blue screw. Before continuing to the next step take your PS3 hard drive to your pc and connect it to your SATA dock. Go to Control Panel -> Administrative Tools -> Computer Management -> Disk Management.
Your PS3 drive will probably be listed as "E:" drive if you have nothing else attached. Look carefully at the bottom of the screen where it tells you the disks attached. Your PS3 disk should be listed as "Not initialized". You need to right click on the little window where it says "Not Initialized" and click "Initialize Disk". Continue to next step.
Step 3. An error will come up on screen after you unplugged your hard drive, usually different from the 8002F14E error. A countdown will start from 60 seconds saying the system is going to be restarted. If everything went well with the previous step you have managed to get back to your PS3 before the countdown has ended. Let the PS3 restart.
Step 4. Plug your hard drive back into your PS3 when you have a blank black screen and the power light is green after it has restarted, NOT BEFORE!!!
Step 5. It will seem like nothing is happening but it will eventually say your hard drive needs formatting. Continue with the format. After the format is complete your system should now restart without the install process back into the XMB.
Step 6. DO NOT TRY TO RE-UPDATE UNTIL YOU HAVE FIXED WHATEVER WAS BROKEN TO MAKE THE PATCH SCREW UP!!!
I hope this helps anyone with this annoying error, the only reason I used this method was because my Blu Ray drive was faulty and it would not let me update, SONY sucks IMHO when it comes to patches.
Let us know how it went!
Some users report that they have to connect their PS3 to internet via cable (not WiFi) to get rid of the error. Maybe you should try this too, if you haven't already!