Had this issue while adding CocoaPods into an old project, which already had manually included libs from before. It happened because Xcode was not resolving to the `Framework Search Path` generated by CocoaPods because of values previously set in target's settings.
Solution that helped me:
1. copy the old path
2. hit delete to completely clear the `Framework Search Path` settings in the target's column - the path, generated by CocoaPods would appear there
3. add the old search path back under the generated one (only needed if you still have some manually added frameworks to work with)
4. Clean project, wipe Derived Data, build.
The result would look like this (1st line added by Xcode, 2nd added by CocoaPods, and 3rd is manual):
[![enter image description here][1]][1]
[1]: