II–VI semiconductor nanotubes are a recently developed class of nanomaterials whose unique photophysical properties are helping to create a new generation of nanomaterials in the field of photonics and microelectronics. In this report, we examine the progress in adapting these nanomaterials for several optoelectronics applications followed by characterization studies. Magnesium oxide and silver oxide (MgO:AgO) nanoparticles were synthesized using a hydrothermal method by taking magnesium nitrate, silver oxide and glycine. X-ray diffraction (XRD) results showed that the peaks are consistent with a pure phase cubic structure of MgO. The XRD pattern also confirmed the crystallinity and phase purity of the sample. Nanocrystal sizes were found to be up to 25 nm as revealed by XRD and HRTEM. Photoluminescence measurement (PL) reveals the systematic shift of the emission band towards lower wavelength thereby ascertaining the quantum confinement effect.