An experimental study has been presented of the oxide-confined vertical-cavity surface-emitting lasers (VCSELs) operating in the 850 nm region of the electromagnetic spectrum. In this regard, various relevant VCSEL samples with numerous oxide aperture sizes have been fabricated and characterized. Thorough investigations of the electrical as well as optical characteristics of the fabricated samples have been performed, which include the overall device performance as a function of the oxidize aperture sizes. It is reported that the VCSELs with oxide aperture size <10 μm require low threshold currents (<1 mA). Further, the differential quantum efficiencies up to 28% corresponding to wall-plug efficiencies of up to 15% were measured for a number of these devices.