Abstract-Efficiency often constitutes the main goal in the design of a power system because the minimization of power losses in the magnetic components implies better and safer working conditions. The primary source of losses in a magnetic power component is usually associated with the current driven by the wire, which ranges from low to medium frequencies. New power system tendencies involve increasing working frequencies in order to reduce the size of devices, thus reducing costs. However, optimal design procedures involve increasingly complex solutions for improving system performance. For instance, using litz-type multi-stranded wires which have an internal structure to uniformly share the current between electrically equivalent strands, reducing the total power losses in the windings. The power losses in multi-stranded wires are generally classified into conduction losses and proximity losses due to currents induced by a magnetic field external to the strand. Both sources of loss have usually been analyzed independently, assuming certain conditions in order to simplify the derivation of expressions for calculating the correct values. In this paper, a unified analysis is performed given that both power losses are originated by the electromagnetic fields arising from external sources where the wire is immersed applying the decomposition into transversal magnetic (TM) and transversal electric (TE) components. The classical power losses, the so called conduction and proximity losses, can be calculated considering the TM modes under certain conditions. In addition, a new proximity loss contribution emerges from the TE modes under similar conditions.