I installed new Android Studio 0.1.1 based on IDEA ide and tried Import code from Eclipse.
For general 'import project' info, search for the word 'import' on this install-guide document for Android Studio:
http://developer.android.com/sdk/installing/studio.html
EDIT: I've recently learned to use the 'import' dialog, so that I can
import projects from GitHub, which is very cool! (I first watched a tutorial
on YouTube titled 'git and github'). Then I learned that one needs to
use 'git' to "Clone" an entire GitHub repository (to bring a dir-tree full
of separate projects to your development machine). Then, you can navigate
into that sub-tree, to a given project of interest, and then use Android
Studio's 'import' dialog to play with that example project.
WOW, NEAT!
Hope this helps...
Update your android APIs using Android SDK Manager.It seems you have installed API lower than level 15.
From the quick start window, choose Configure, then choose Project Defaults, and then choose Project Structure. Then on the left under Platform Settings choose SDKs. Then to the right of that choose the current android platform, mine was Android 4.2.2 Platform, and delete it using the red minus button at the top, then add a new android platform using the green plus button at the top and point it to your current SDK folder and that is it.
Had same problem, now works. I did this:
Open android studio:
Tools -> android -> SDK manager then install the android 4.0.3 (API 15) and done.
It worked for me.
I simply solved the problem by changing the project build target (Project properties->Android->Project Build Target).
In the file build.gradle change your compileSdkVersion to your current version. For me it is 23. Your buildToolsVersion would be the same number. Hence the only thing I had to do was