I need to test my android app with android version 4.0.3 but I am unable to create an emulator with this Android version. Please check following screenshots for more details:
Installed Intel x86 system image for version 4.0.3:
No option for 4.0.3 version while selecting system image:
Already tried following with no luck:
You are almost there. After creating the AVD via the command line, find the location of your AVDs. On my Mac they are in the .android/avd folder in my home directory. For reference the name of my new AVD is Api-15-Gnex. I edited two files (I am guessing there is a bug of some sort otherwise this should all be done through GUI). I edited the following two files (change as you see fit for your situation). Below are the how they look like at the end:
avd.ini.encoding=UTF-8 path=/Users/kaamel/.android/avd/Api-15-Gnex.avd path.rel=avd/Api-15-Gnex.avd target=android-15
avd.ini.encoding=UTF-8 AvdId=Api_15_Gnex abi.type=x86 avd.ini.displayname=Api 15 Gnex disk.dataPartition.size=4G hw.accelerometer=yes hw.audioInput=yes hw.battery=yes hw.camera.back=none hw.camera.front=none hw.cpu.arch=x86 hw.dPad=no hw.device.hash2=MD5:6930e145748b87e87d3f40cabd140a41 hw.device.manufacturer=Google hw.device.name=Nexus 4 hw.gps=yes hw.gpu.enabled=no hw.gpu.mode=off hw.keyboard=yes hw.lcd.density=320 hw.mainKeys=no hw.ramSize=512 hw.sdCard=yes hw.sensors.orientation=yes hw.sensors.proximity=yes hw.trackBall=no image.sysdir.1=system-images/android-15/default/x86/ runtime.network.latency=none runtime.network.speed=full runtime.scalefactor=0.1 sdcard.path=/Users/kaamel/.android/avd/Api-15-Gnex.avd/sdcard.img skin.name=768x1280 skin.path=768x1280 skin.path.backup=/Applications/Android Studio.app/Contents/plugins/android/lib/device-art-resources/nexus_4 tag.display=Default tag.id=default vm.heapSize=48
After the edit there were no error and I could edit and/or run it like other AVDs. Just notice that the paths are specific to my setup and you need to change them to yours (like my home directory is at Users/kaamel, or my Android Studio is installed at /Applications/Android Studio.app, etc).
Make sure to check the Api_15_Gnex.ini (or whatever you named your AVD) as well. The last line, "target=android-15", must match the image.file.sysdir.1 target. They both must be the same, in this case android-15. Once you do that, even if you get the error, click on Show Advanced Settings and correct other errors (like skin name, internal storage, etc.) and when there are no more errors click finish and let it regenerate the AVD.