A consumer input/output (CIO) optical transceiver module, an active optical cable that incorporates a CIO optical transceiver module, and a method for using a CIO optical transceiver module in an active optical cable are provided. In contrast to optical transceiver modules currently used in active optical cables, which utilize parallel arrays of laser diodes and parallel arrays of photodiodes, the CIO optical transceiver module includes two singlet laser diodes and two singlet photodiodes for providing two high-speed transmit channels and two high-speed receive channels, respectively. Because the singlet laser diodes and photodiodes of the CIO optical transceiver module are less costly than the parallel arrays of laser diodes and parallel arrays of photodiodes that are used in known active optical cables, the CIO optical transceiver module can be manufactured at relatively low costs with high quality, and therefore is well suited for consumer applications.