Android 4.0 emulator always has a crashing Launcher?

I have experienced this same problem, several times. All I did was changed the RAM size to 512, and heap to 32. Rest all good...

@racs here suggested that changing the emulator skin in the AVD manager might also help. Give it a try...

Check if this helps.

I'm also facing the same issue after updating latest SDK. I come up with following solution after spending few hours,

The problem is "unfortunately, launcher has stopped". This happens because of the AVD skin path not properly assigned in AVD's config.ini

For Ex. My AVD name is AVD_4.0.3_WSVGA

before fix skin.path=AVD_4.0.3_WSVGA

so I changed skin path as follows, skin.path=platforms/android-15/skins/WSVGA

you can find config.ini

in linux(Ubuntu) /home/[username]/.android/avd/[your avd name]/config.ini

Try a different API level.

I got that idea here, and it worked a Nexus 7 AVD at API level 17 with an ARM CPU on OS X and it seems to be OK.