This error appears when I updated IDEA CE to 132.1045 version. AVD manager has no problem with this AVD. I tried to recreate AVD from scratch but no result, same problem. In SDK manager no updates.
If click on "Continue Anyway" app deploys normal.
This problem happens to me after SDK updates when I am using any device based directly on the default Device definitions.
Furthermore: any new virtual device created with the default device definitions (Nexus 7, Nexus S, etc) gives directly the same error.
My solution is to duplicate these definitions:
the answer by @coderazzi is correct, but those who are new to intellij and are facing problems in finding appropriate settings here's some images
Open AVD Settings
Open Device Definitions and select any device definitions eg. Nexus S
Click on Clone and then add a new name
Create a new AVD using the new definitions "Bug Free Nexus S". Now use this as your target emulator and you will face no problems.
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