If your are not an audiophile and don't care much about audio/video quality, cheap chinese MP3/MP4 players are just for you, these devices are quite popular and just get the job done, since there is no quality control over these devices they do not last long, one of the most common problems faced with these portable players is the issue of firmware software corruption, I encountered a similar problem with my friends PMP which refused to start getting stuck at loading screen, the only solution was to flash the firmware but the problem was unavailability of any information and tools to get the job done, after long research and flashing the firmware I was able to successfully recover the MP4 player to working condition.
Here is an step-by-step tutorial on how to identify your MP4 player, download its firmware and flash it using appropriate tools :