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To eliminate the conduction band spike at the base-collector interface,an InP/InGaAs double heterostructure bipolar transistor (DHBT) with an InGaAsP composite collector is designed and fabricated using the conventional mesa structure.The DHBT with emitter area of 1.6×15 μm2 exhibits current-gain cutoff frequency ft = 242 GHz at the high collector current density Jc = 2.1 mA/μm2,which is to our knowledge the highest ft reported for the mesa InP DHBT in China.The breakdown voltage in common-emitter configuration is more than 5 V.The high-speed InP/InGaAs DHBT with high current density is very suitable for the application in ultra high-speed digital circuits.