It’s an Android focused IDE, designed specially for the Android development. It was launched on 16th May 2013, during Google I/O 2013 annual event. Android studio contains all the Android sDK tools to design, test, debug and profile your app. By looking at the development tools and environment, we can its similar to eclispe with the ADT plug-in but its android focused IDE, there are many cool features available in Android Studio which can foster and increase your development productivity.
One great thing is that it depends on the IntelliJ Idea IDE which is proved itself a great IDE and has been using by most all the Android Developers.