An optoelectronic device comprising at least one quantum well (QW) and at least one quantum dot (QD) incorporated in the quantum well with the band gap of the quantum well being larger than the band gap of the quantum dot. The QDs and QD arrays are embedded in various QW, thus providing higher yields in optoelectronic devices, such as light emitting diodes, lasers, and photodetectors. This is achieved by a nearly complete suppression of the nonradiative Auger recombination and enhancement of the light extraction efficiency.