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Did you buy it knowing this was the issue? Did you happen to research it beforehand? If you were not aware of the issue, send it back. If you bought it just to mess around with and any added functionality is a plus, I would check out XDA and get to flashing some different combinations of firmware/radios if recommended by reputable people on there.
I've read this can be a sign of someone flashing radios & they may not be compatible w/the SIM Card you're using.
I actually bought an OG SAMSUNG GALAXY NOTE,used,on e-Bay that had that exact problem.
Since the seller had a 14 day money-back guarantee,I didn't pursue the matter & just sent it back.
This forum has a lot of knowledgeable people.
Hang aroud a bit & they'll pop-in & should be able to better help determine if the problem is firmware/radios/or,a hardware issue.