P-type transparent conducting oxide films consisting of a new multicomponent oxide composed of In2O3 and Ag2O have been prepared by rf magnetron sputtering. After postannealing at a temperature of 500 °C in air, In2O3–Ag2O thin films prepared using In2O3–Ag2O targets with Ag2O contents of 40–60 wt % exhibited p-type conduction. A resistivity of 10-1–10-3 Ω cm and an average transmittance above 20% in the visible range were obtained in the p-type amorphous In2O3–Ag2O films. A resistivity of 8.8×10-3 Ω cm, Hall mobility of 17 cm2/Vs and hole concentration of 4.2×1019 cm-3 were obtained in a film prepared with an Ag2O content of 50 wt %. © 1998 American Vacuum Society.