Abstract: The influence of lateral asymmetry on the electronic structure and optical transitions in elliptical strained InAs nanorings is analyzed in the presence of a perpendicular magnetic field. Two-dimensional rings are assumed to have elliptical inner and outer boundaries oriented in mutually orthogonal directions. The influence of the eccentricity of the ring on the energy levels is analyzed. For large eccentricity of the ring, we do not find any AharonovBohm effect, in contrast to circular rings. Rather, the single-particle states of the electrons and the holes are localized as in two laterally coupled quantum dots formed in the lobes of the nanoring. Our work indicates that the control of shape is important for the existence of the AharonovBohm effect in semiconductor nanorings.