Compaq Computer Corp has taken the wraps off a new hand held portable computer that runs on the recently announced Windows CE 2.0 operating system. The Compaq C-Series PC companion is aimed at the mobile business user and is intended to be used as an extension of a portable or desktop computers. Compaq says it has made the communication process between the devices as simple as possible. Users will be able to access and manipulate large quantities of information from notebooks, desktops and networks, at home and at work, it says. It eschews Intel Corp processors in favor of the MIPS RISC chip. The C-Series PC companion will start shipping worldwide during the first half of next year: no prices.