Solution: Check the number of CPU cores assigned. By default, AVD uses 1 core. Edit the device and under "Advanced", set CPU cores to 2 or 4. ICS cannot use more than 4 cores effectively.
In the verification screen, click "Show Advanced Settings". Adjust: Android 4.0 Emulator
In the tab, check the box for "Show Package Details." Look for Android 4.0.3 (Ice Cream Sandwich) (API Level 15). Solution: Check the number of CPU cores assigned
The number one mistake is forgetting hardware acceleration. Android 4.0 Emulator