Nothing new about this. This is not a "speaker wire," but a TRS connector. Each wire within the cable connects to a different part of your 3.5mm TRS connector. (TRS stands for Tip-Ring-Sleeve.) Three conductors are necessary to have a stereo (i.e., two channel) analog audio. If you only had two conductors, you'd have mono.
As for repairing them, the replies above me are right. These are very fine wires, and they're coated by some kind of enamel/shellac for insulation. It can be a bit tricky to solder, and you definitely need to watch your heat and not burn the insulation too far up the wire. Use a generous length of heat shrink tubing on each wire for insulation and strain relief, and ideally a larger diameter shrink tubing around all three. If done correctly, your solder joints will be much stronger than the original wires, but the wires will be prone to breaking right next to that stiff joint, so the more strain relief you can provide, the longer your repair will last.