Sprint reported a larger third-quarter loss as subscribers continued to leave for rivals AT&T and Verizon, despite an improved porfolio of phones and cheaper rates.

The Overland Park, Kan.-based company said it lost $478 million in the quarter, compared to a $326 million loss in the same period of 2008.

It also said it lost 545,000 subscribers, including 801,000 postpaid customers who sign annual contracts -- an improvement over the 1.3 million loss in the third quarter last year.

By contrast, rivals AT&T and Verizon Wireless said they added 2 million and 1.2 million total subscribers during the quarter, respectively.

Sprint, the third-largest U.S. carrier, has tried to regain lost ground after losing subscribers for more than two years.

"We had some successes in the third quarter but we still have much progress to make," said Dan Hesse, Sprint's CEO.

In an effort to keep subscribers, Sprint has rolled out a customer loyalty program, beefed up its portfolio of high-end smartphones -- including Palm's Pre, to better compete with Apple's iPhone for AT&T -- and undercut competitors on price by offering unlimited mobile-to-mobile calling.

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