Hofners are German-made guitars with a long history. I learned my first three chords on my brother's Hofner arch top. Paul McCartney's fiddle shaped bass is a Hofner and George Harrison played a Hofner in the very early Beatles days as well. In the fifties and sixties they were inexpensive guitars, but thanks to the Beatles, they are no longer budget guitars. Most of the Hofners I've played were arch tops with zero frets.
I believe there are budget Hofners coming out of China now.