You may get this error if you already have Android Studio/Eclipse SDK installed on your computer. To resolve this issue all you need to do is update the SDK version to 22 or later.
Solution:
Open SDK Manager:
- Location Windows : \Users\<user-profile>\AppData\Local\Android\android-studio\sdk\
- Location Mac OS X : /Applications/Android/Studio.app/sdk/
- Update SDK tools from version 2.1 to 2.2
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