I am trying to do a screen recording of my Android device by following this article but I get the following error:
adb shell screenrecord /sdcard/demo.mp4
/system/bin/sh: screenrecord: not found
My Android device is running version 4.1.2.
From the article you linked:
Android 4.4 adds support for screen recording and provides a screen recording utility that lets you start and stop recording on a device that's connected to your Android SDK environment over USB.
Now, Android 4.1.2 is not 4.4, so that's why the required binary is not found on the device.