"The Microsoft® .NET Compact Framework 2.0 SP2 Redistributable contains the common language runtime and class libraries built for the .NET Compact Framework. In addition to supporting version 2.0, it also supports applications developed for version 1.0 and service pack releases before version 2.0. Important: This redistributable enables running .NET Compact Framework applications on the Pocket PC, Pocket PC Phone Edition, Smartphone, and other Windows CE powered devices. To develop .NET Compact Framework applications, Microsoft Visual Studio 2005 or the Microsoft .NET Framework 2.0 SDK are required."
Microsoft has released Service Pack 2 for the .NET Compact Framework 2.0. The update features a bunch of fixes, check out the Service Pack 2 download page for more details. In case you have the .NET CF 2.0 installed on your Smartphone, then you should download this update and install it on your device. And don't forget, you can install the .NET CF on the storage card.
Source: Pocket PC Thoughts