[FlashBuilder] Error occurred while installing the application

That moments when you get this error from Flash Builder 4.7...

Which said...

Error occurred while installing the application:
pkg: /data/local/tmp/QHappy.apk
Failure [INSTALL_FAILED_VERSION_DOWNGRADE]
3476 KB/s (11299944 bytes in 3.174s)

Don't panic! Just increase version number in your Main-app.xml...

1.0.0 

to something like

 1.1.0

And you're good to go! Or you can try close and delete installed application and try again.

That's it! :)