Hello Ritesh Panchal,
The Android Things is a new Platform that extends the core Android Framework and has APIs specific to the Things Support Library. It is not exactly neither a minimal nor a full feature image but rather an Android image with features specific to the Internet of Things environment.
I would recommend referring to the Google Developers website for the specifics on this, but there is support for LCDs and other peripherals, although with some changes. For example, it does support GUIs but Android Things does not include the system status bar or navigation button as to give applications full control over the visual experience.
Regarding the supported hardware these are limited and approved by Google and can be found here:
https://developer.android.com/things/hardware/developer-kits.html
I hope this information helps!
Regards,