PS2 Settings
Prior to connecting your component cable, turn on the PS2 and enter the menu. You can access the menu by starting the console without a disc in the drive. From here, you must set the PS2 output to component instead of the default RGB. Also, as most HDTVs are wide-screen, you may experience problems with screen stretching or DVD playback. These are controlled through the aspect ratio setting on the PS2 menu and should be set to 16:9 for wide-screen. A further problem is related to the progressive scan option. All PS2 consoles support progressive scan mode for games, but only version nine or later releases have this support for DVD play.
HDTV Problems
Many HDTVs have their own menu for selecting input channels. Make sure yours is set for a component signal on "line in." Colors and contrast can be adjusted manually from your TV menu, and many have a "game mode" that will make these adjustments automatically. Some HDTVs will have multiple inputs for S-Video or VGA in addition to those for your cable. Ensure that you are using the correct input. While the others will work with some consoles or computers, they are not high definition and are no better than the basic RGB connection.
Hardware Problems
If adjusting the menus on both devices did not fix the problem, it may be hardware related. A good indicator of this is if the signal from the PS2 is coming through, but certain colors are missing. This is a sign of a faulty input/output on the console or TV. It may also be a damaged cable. The first step is to replace the cable, as it will just require a quick run to the store, and many stores will accept returns for hardware. If you have other devices that use the same component cable, or a friend with a PS2 you can use for testing, try swapping those out as well. When all else fails, contact the manufacturer of your HDTV for support.