Starting emulator for AVD 'AVD for TEST PANIC: ANDROID_SDK_HOME is defined but could not find AVD_for_TEST.ini file in

Starting an AVD:
 

Message:

 

Starting emulator for AVD 'AVD for SAMSUNG GALAXY_S3 PANIC: ANDROID_SDK_HOME is defined but could not find AVD_for_SAMSUNG_GALAXY_S3.ini file in $ANDROID_SDK_HOME\.android\avd(Note: avd is searched in the order of $ANDROID_AVD_HOME,$ANDROID_SDK_HOME\.android\avd and $HOME\.android\avd)

Solution: set the Android home directory: ANDROID_SDK_HOME system variable