Found this question. I was importing an old project into android studio and got the error.
The issue was eventually answered for me here mipmap drawables for icons
In the manifest it has
<application
android:allowBackup="true"
android:icon="@drawable/ic_launcher"
...
but @drawable has been superseded by @mipmap so needed changing to:
<application
android:allowBackup="true"
android:icon="@mipmap/ic_launcher"
...
I put this answer here, as it may become a more common issue.