Android: Failure [INSTALL_FAILED_UID_CHANGED]

Today, I tried to install an application from command line and I found this error:

Failure [INSTALL_FAILED_UID_CHANGED]

After Googling for a while, I found the reason.
This happens when there is application data from older version is still present. To resolve this, clear/delete the following directory:

/data/data/<PACKAGE_NAME>

To do this, open terminal and type the following commands:

adb shell
cd /data/data/
rm -r <PACKAGE_NAME>
exit

Now try to install the application.
Viola.